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Global Carbon Markets

The global carbon market is a movement among most of the countries to fight the threat imposed by the global climate change. It is a market that aims to support and fund projects in the developing countries that mitigate greenhouse gases. Industrialized countries are usually the ones who participate and invest in this trade. The funds they raise are also used to fund and support developing countries on the GHG emission mitigation projects being done in these places. However, there are some problems arising in this trade.

Climate Change Threat

Deforestation and fossil fuel burning increases the effect of the greenhouse gases on the atmosphere. This leads to global climate change. Global climate change has adverse and extreme effects on the earth. Now, the international community has made this one of the most prioritized issues. To combat the threats imposed by climate change on the planet, a lot of countries started to participate in the global carbon market. This market includes allowance-based agreements that will impose national caps on emissions. This also allows the countries to join emission trading and project based transactions like the Clean Development Mechanism.

Clean Development Mechanism

The Clean Development Mechanism encourages industrialized countries that have committed to reduce greenhouse gas to invest in projects that aims to reduce emissions. These projects are done in developing countries as a cheaper alternative than doing it in their own countries.  CDM has garnered enough funds to provide opportunity for developing countries that has problems with funds. This way the developing countries can have the needed funds for adaptation measures.

Sub-Saharan Africa

The cost for mitigating Greenhouse gases in Africa is very expensive, but this region can contribute greatly for the reduction of GHG emissions in the world However, the countries in this region are marginalized in the global carbon market. They do not have the enough funds to mitigate the GHG in their region. Because of this the Sub-Saharan Africa cannot further participate in the global carbon markets and there will be no more expansion for market share in the Sub-Saharan Africa region.

Carbon Market Explosion

In recent years, the global market has exploded. A lot of industrialized and developed countries have participated in the GHG mitigation schemes of the global carbon market. Europe, British Columbia, Canada, Australia, New Zealand and even the United States have participated in this trade. All these countries are starting to adopt some of the GHG mitigation schemes. They aim to reduce the GHG emissions to save the planet from the threats brought by the climate change.

Carbon Market Contraction

However, according to the World Bank, the global carbon market is slowly contracting. The activities concerning CDM in the U.N. has reduced to about 48% in 2009.  The Assigned Amount Unit in the Eastern European governments for the Kyoto Protocol treaty and the Regional Greenhouse Gas Initiative in the northeast part of the United States also decreased. The World Bank said that the global carbon market became stagnant even with the recovery of the international economy.

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