The concept of carbon credit originated from which one of the following?
✓ Correct answer: b) Kyoto Protocol
ExplanationA carbon credit represents the reduction or removal of 1 metric ton of CO₂ or its equivalent from the atmosphere.It allows for compensating carbon emissions by funding projects that either reduce emissions, like renewable energy or energy efficiency, or remove CO₂ through methods like reforestation or carbon capture.The concept of carbon credits was formalized under the Kyoto Protocol (1997), introducing mechanisms like Emission Trad- ing, where countries could sell excess credits, and the Clean De- velopment Mechanism (CDM), allowing investments in emis- sion-reduction projects in developing countries for credits.119
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