In the context of CO₂ emission and Global Warming, what is the name of a market driven device under the UNFCC

Question

In the context of CO₂ emission and Global Warming, what is the name of a market driven device under the UNFCC that allows developing countries to get funds/incentives from the developed countries to adopt better technologies that reduce greenhouse gas emissions?

Accepted Answer

The Clean Development Mechanism, or CDM, is the correct answer because it was established under the Kyoto Protocol of the UNFCCC. It is a market based mechanism that allows developed countries to meet their emission reduction targets by investing in green projects in developing nations. In return for these investments and the transfer of better technologies, the developed countries earn certified emission reduction credits, while developing countries receive the necessary funds and incentives to lower their greenhouse gas emissions.

Options A, B, and D are incorrect because Carbon Footprint is a measure of impact, Carbon Credit Rating is an assessment tool, and Emission Reduction Norms are regulatory standards, none of which represent the specific UNFCCC market device described in the question.

Answer

Carbon Footprint

Answer

Carbon Credit Rating

Answer

Clean Development Mechanism

Answer

Emission Reduction Norm

In the context of CO₂ emission and Global Warming, what is the name of a market driven device under the UNFCC that allows developing countries to get funds/incentives from the developed countries to adopt better technologies that reduce greenhouse gas emissions?

Explanation

Related questions