TITLE

RIGHT TO POLLUTE? ; AN UNDERSTANDING ON THE IMPLICATIONS OF INTERNATIONAL CARBON TRADING MARKET

AUTHOR(S)
Chaturvedi, Soumya
PUB. DATE
October 2013
SOURCE
OIDA International Journal of Sustainable Development;2013, Vol. 6 Issue 10, p17
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The nature has laid down the very foundation of our being on this planet and we in this rat race to compete amongst ourselves have ignored the very existence of our natural life support. This era of industrialization has swept the green cover of our planet and turned into a land of concrete jungles producing the black fumes with the mere intention to meet the ever growing greed of the nations. In this blind folded race, citizenry of the world nations became oblivious that their greed had to be fulfilled at the cost of the very nature, which is the source of their own existence. People boorishly ignored the fact that proceeding further would be unfeasible without striking the required equilibrium between the development and the nature. The potential of a human mind to create is incontestable, the potential to destroy cannot be annulled either. The consistency in the callous annihilation by the human race seems to be the accepted norm in fulfilling the undesirable aspiration of becoming the super-powers. It was only in the late 1980s that the concept of sustainable development was recognized by the intellectuals among the world citizenry. They realized that nature is not capable of replenishing by itself considering the exponential increase in the rate at which development is taking place. One amongst the many steps taken since then to mitigate this danger of compromising our environment and promoting sustainable development is the Kyoto Protocol. This concept gave a new dimension in the understanding of sustainable development. It disclosed a manner in which the nations could proceed with the procession on their conduit of development. However this procession had an impediment. This impediment was nothing but a very clever move by the policy makers of materializing the language well understood by the callous world citizenry, the language of money. The concept brought in a unique collaboration between the means and methods in producing and serving of a financial constraint on it. The idea behind this concept cannot be negated if one says it to be one of the most creative and unsurpassed ideas of all time to address the issue on sustainable development. This measure introduced the concept of 'carbon credit' which intended to serve on the issue of ever rising carbon emissions by the industries. This enormous rise in carbon concentration acted heavily on the environment. The environmentalist feared that this rise would in turn increase the temperature of the globe that shall lead to numerous undesirable consequences. This system in Kyoto Protocol binds the member countries to a 'cap' for the emission of carbon. It also provides for a provision of trading these caps. This technique contributed in multiple ways in dealing with the reduction agenda of carbon by the big money houses, but it did bifurcate the world nation controversially on the basis of development. How-so-ever pioneering this brain- child proved to be, the scantiness weren't far behind. In due course of time the money-makers penetrated these loopholes in their best interest. However, these loopholes as they say are not beyond the scope of rectification. This article discusses the complex working of the concepts in the Kyoto Protocol. It also discusses the implications of the same and probable solutions to the blemishes concerning it in an international echelon.
ACCESSION #
95882517

 

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