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?
A
Carbon Footprint
B
Carbon Credit Rating
C
Clean Development Mechanism
D
Emission Reduction Norm
Correct Answer: Option C
Explanation
1. The question asks for the name of a market driven device under the UNFCCC related to reducing greenhouse gas emissions in developing countries with support from developed countries.
2. Carbon Footprint measures total emissions.
3. Carbon Credit Rating is not a standard UNFCCC term.
4. The Clean Development Mechanism (CDM) is one of the flexible mechanisms defined in the Kyoto Protocol (under the UNFCCC). It allows emission-reduction projects in developing countries to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2. These CERs can be traded and sold, and used by industrialized countries to meet a part of their emission reduction targets. This fits the description of a market driven device providing funds/incentives for emission reductions in developing countries via technology adoption.
5. Emission Reduction Norm is a general term for standards.