(Video) Rajya Sabha TV (RSTV) In Depth: Carbon Trading & Climate Change

Topic: Carbon Trading & Climate Change

Topic Description:

India has been in the forefront of an intense battle to protect the environment by reducing its carbon foot print To this end ... it has invested heavily in low-carbon intensive technologies...successfully switched to renewable energy and stepped up its efforts to protect forests.

In the process it earned hundreds of millions of carbon credits or emission reduction certificates that are also called CERs Under the prevailing Kyoto Protocol climate agreement ... carbon credits are used in market-based system of Carbon Trading. Carbon trading allows countries and companies to sell their carbon credits for money. In December... the UN Climate Change Conference or COP 25 was held in Madrid. COP 25 was to have finalised rules for a new global carbon market under the Paris Agreement.

For India ... one the goals and focus at the Madrid conference was to win the right to sell its hard-earned carbon credits .

But the talks that concluded in Madrid on 15th December ended without agreeing on the rules for future carbon trading