Carbon Credit: A Burning Business Issue
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Carbon market is the brain child of the Kyoto Protocol for controlling green house gas emissions. This market has become the fastest growing financial market in the world. This market is mainly operated by Clean Development Mechanism (CDM), which allows carbon credit earnings and carbon trading between countries and companies, establishing carbon credit exchange in the business world. As the first commitment period of the Kyoto Protocol in 2012 is completing nearly, it is important to take stock of global scenario of the carbon business and its achievement level. India signed and ratified the Kyoto Protocol in August 2002. Since India is exempted from framework of the treaty, it is expected to gain from the protocol in terms of transfer of technology and related foreign investments. India was an early player in the market and was doing well, but after the entry of China in 2005, it gradually outperformed India in the carbon market. This article focuses on the global scenario, India’s participation and performance in the carbon market. It also describes the market mechanism, highlights accounting treatment of carbon trading in India and international and finally cited number of case studies of Indian companies in carbon trade
Article History
How to Cite
Mondal, A. P. & Sachdev, S.. (2014). Carbon Credit: A Burning Business Issue. International Journal of Business and Economic Development, Volume 01 Issue 1.
Citation Context
APA
Mondal, A. P. & Sachdev, S.. (2014). Carbon Credit: A Burning Business Issue. International Journal of Business and Economic Development, Volume 01 Issue 1.
MLA
Mondal, Atish Prosad, and Sanchit Sachdev. "Carbon Credit: A Burning Business Issue." International Journal of Business and Economic Development, Volume 01 Issue 1, 2014.
Chicago
Atish Prosad Mondal and Sanchit Sachdev. "Carbon Credit: A Burning Business Issue." International Journal of Business and Economic Development Volume 01 Issue 1 (03 Mar 2014).
Harvard
Mondal, A. P. & Sachdev, S. (2014) Carbon Credit: A Burning Business Issue. International Journal of Business and Economic Development, Volume 01 Issue 1
References
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- Guidance note on Accounting for Self-generated Certified Emission Reductions (CERs), issued by ICAI on 17/02/2012, page no.4 (Preface).
- Newsletter issued by National Solid Waste Association of India (seventh issue), February 2007, page no.2 (www.nswai.com)
- Fifth series of white papers of KPMG (UK)- Louis Redshaw, Head of Environmental Markets, Barclays Capital, Year 2008, page no.1
- Newsletter issued by National Solid Waste Association of India (seventh issue), February 2007, page no.2 (www.nswai.com)
- Background Paper on Scaling up Carbon Finance in India: Strategies for Low Carbon growth-prepared by the World Bank, June 2008, page no.iii.
- ibid, page no.4.
- ibid, page no.6.
- ibid, page no. 8.
- ibid, page no. 9.
- ibid, page no. 10.
- ibid, page no. 11.
- http://www.onlinecarbonfinance.com/india-and-carbon-credits.htm , last visited on 20/6/2012
- Cashman M & Hutchinson M (2010), Taxation and Trading of Carbon Credits, International Tax Review, available at http://www.onlinecarbonfinance.com/india-and-carbon-credits.htm
- ibid
- http://www.rediff.com/money/2008/feb/05inter1.htm , last visited on 21/6/2012
- 25.http://articles.economictimes.indiatimes.com/2011-10-03/news/30238407_1_carbon-credits-krishnapatnam-tilaiya-project , last visited on 21/6/2012