Carbon trading

Carbon trading
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Background information
Man is alleged to be capable of doing anything for survival as well to become prominent and this why many countries has involved themselves in different types of trades which may have something to return and develop their countries and here come the carbon trading which help in fighting (GHG) greenhouse gas. In its definition, carbon trading is believed to be a scheme where countries buy and sell carbon permits as parts of a certain programme in order to reduce emissions. In this case, films are given certain quotes to pollute a certain amount.
If by chance they happen to pollute it and need more than their allowance then they are supposed to buy more permits. On the other hand, if they use less than their initial quote then they can as well sell their spare permits on the market and there the market of carbon is established. This paper seek to describe what is meant by carbon trading, provide its historical development on the global level, describe its economic social-political among other aspects of carbon trading.
History on the carbon market
In has been noted that global warming and climate has taken a new phrase which has been proven by meteorologists when they begun to notice changes in weather trends since early 1930s. The first thing which made them easier to determine the weather trends change is the winter. In this case, they realized that they were preliminary later in the year and they where becoming warmer compared to other season (Swingland, 2003).
Eventual, this result were no ones concern as man believed that it was just normal with the nature without noticing that it had issues to do with human activities. It was till when Stewart conducted a research and explained that the background of the increased temperature could be traced back to the increased burning of fossil fuel for industry and developments. He explained that as fuel combusted, they emit carbon dioxide that prevents heat from the sum escaping out of the earth atmosphere (Anderson, 1995).
Though Stewart had tried his best to explain the cause of this epidemic gas, his ideas were not significant during this time until decades later during 1970s. During this period, several researchers had emerged and where they had collected information's on both global temperature changes and the increase in the concentration of carbon dioxide in the atmosphere. In their research, they explained that the scourge of global warming not only real but swiftly accelerating than how people believed (Carroll, 2006).
Regarding the economy in the carbon market, the government determines and if great care is not implemented, the economy could go to free fall once the government botches the introduction of its emissions trading scheme. In this case, the government is required to advance carefully wit scheme in order to avoid sending the economy into free fall. On the other hand, ther...