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Carbon credits represent a market-based approach to reducing greenhouse gas emissions by assigning a monetary value to the cost of polluting. These credits can be generated through carbon sequestration projects or CO2-saving initiatives, forming an essential part of compliance and verified markets. The chapter discusses various methods of carbon capture, transport, and storage, alongside the economic principles applied to environmental accountability, including the Polluter Pays Principle and the importance of green building practices.
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References
ch4 part b.pdfClass Notes
Memorization
What we have learnt
Final Test
Revision Tests
Term: Carbon Credits
Definition: Tradable permits that represent the right to emit one tonne of carbon dioxide, serving as a market mechanism to incentivize reductions in greenhouse gas emissions.
Term: Carbon Sequestration
Definition: The process of capturing and storing atmospheric carbon dioxide to mitigate climate change, involving both natural and artificial methods.
Term: Polluter Pays Principle
Definition: An economic principle stating that those who produce pollution should bear the costs associated with it, thereby internalizing environmental externalities.
Term: Green Building
Definition: Construction practices that are environmentally responsible, efficient in resource usage, and provide healthier spaces for occupants.