It is by employing necessary technology to reduce GHG emissions, Indian companies can earn CERs that can be sold at a price in the emerging multi-billion-dollar market in the global emissions trading.

Environmentalists from around the world attribute the sudden spurt in natural calamities during 2005 to the increasing Greenhouse Gas (GHG) emissions. The impact of these calamities on human settlements further strengthens the predictions of environmentalists and ecologists about global warming caused by increasing GHG emissions. Of late, as the GHG emission has begun impacting the humanity, a number of voices raised against such harmful emissions. This had changed the way respective governments and companies looked at themselves in terms of their responsibility for a cleaner environment.

With growing concerns among nations to curb pollution levels while maintaining the growth in their economic activities, the emission trading industry had come to life. Looking at the growth of the carbon trading in the recent years, many s believe that the present level of carbon market would represent just the tip of an iceberg and could be the beginning of the biggest financial market in the world. With the increasing ratification of Kyoto Protocol (KP) by the nations and rising social accountability of polluting industries from the developed nations, the carbon emissions trading is likely to emerge as a multi-billion-dollar market in global emissions trading.

Many experts have predicted well in advance that there will be platforms developed on the lines of commodities bourses to trade in carbon emission-related products and their derivatives. However, many would wonder how the trading in carbon emission products could take place. Before answering the question, there is a need to understand the Kyoto Protocol (KP), which would form the backbone of the carbon trading industry.

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