The outlook of carbon credit market remains strong owing to active participation of European Union, rising fuel/energy prices, increase in the number of developed countries ratifying Kyoto Protocol, etc.

Managing the emission of Greenhouse Gases (GHG) is the biggest environmental issue these days. Not only India, also but the whole world is fighting against Global Warming. The most dangerous gases responsible for global warming such as carbon dioxide, methane, nitrous oxide, etc. are thrown out by industries such as cement, textile, steel and fertilizers, etc. This group of dangerous gases is combinedly termed as Greenhouses Gases, and are responsible for removing greenery from the planet. The alarming increase of carbon dioxide (major component of GHG) in the earth atmosphere is again a cause for global panic. As per scientist's inference, the natural layer of ozone, which saves us from the Ultra Violet (UV) rays of sun, is getting depleted day by day. The main reason for such depletion is industrial pollution which generates GHGs. To save the earth, a debate was started at international level some decades ago on "How to save the earth?" and the result was the Kyoto Protocol of 1997.

The United Nation Framework Convention on Climate Change (UNFCCC) is a group of countries trying to devise mechanism and protocols to combat- climate changes. India signed the UNFCCC on June 10, 1992 and ratified it on November 1, 1993.

The Analyst Magazine, Carbon Credit Market, European Union, Greenhouse Gases, Global Warming, Kyoto Protocol, Clean Development Mechanism, Emission Reduction Units, Capital Investments, Intangible Assets, Joint Implementation.