There has been so much buzz about the carbon emissions and global warming among the commoners but have you ever wondered what’s happening on the business front in this aspect?
The CER, or carbon credit, which is a permit representing the right to emit a ton of carbon dioxide or a greenhouse gas, is continuing to slide in the global markets and the first commitment period for the Clean Development Mechanism (CDM, under which carbon trading is permitted) is coming to an end this year, leaving the companies and investors with carbon credits worried.
Carbon offset credits have fallen to a new all-time low amid oversupply and signs of a possible ban on some credits in the European Union system. There has been a major blow to the carbon credits in market post the Durban talks (UN Climate Change Conference, December 2011) as Europe, one of the major buyers, put a brake on purchase of green credits, citing recession and a financial crisis.
Although there have been millions of talks and awareness campaigns about global warming, the most important job of executing with vigorous compulsion and innovation still remains a serious challenge.