Carbon Market – A New Normal For Balancing Emissions

Abstract

In the 21^st century the prime concern is to protect the environment and to build up a sustainable nation. Every anthropogenic activity affects our ecosystem that requires special attention worldwide. There are some anthropogenic activities which are equivalently important for human survival but the question arises how we can curb some of the activities which are affecting our planet. Montreal Protocol, Rio Summit, Kyoto Protocol, Paris agreement are some of the treaties signed by various countries where goals were set to protect the planet from any detrimental activities. Carbon market was originated from Kyoto Protocol which was signed by 192 countries on 11 December 1997. The paper gives an insight about the concept of carbon market, its different markets, growth in Asian region and the potential challenges to be faced by carbon market.