At a time when rapid industrialization across the globe is vitiating the atmosphere, the emergence of carbon trade has come as a shot in the arm for human effort to rein in greenhouse gas emission.
Legitimized by the Clean Development Mechanism (CDM) of the Kyoto Protocol, it allows developing countries enter the trade and sell carbon absorbed in their trees to industrialized countries like the US, which is a major polluting nation.
What is even more encouraging is that in just two years, it has created 645 registered projects in around 40 countries, considerably reducing emissions.
According to an estimate by the United Nations Framework Convention on Climate Change (UNFCC), carbon trade will reduce emission equivalent to 1.9 billion tonnes of CO2 to the end of 2012.
In such trade, experts carry out eco-audits to find out hoe much CO2 the client releases and then the expert identifies environmental services which can offset the emission. This has also resulted in additional income for those who let their trees grow to maturity.