Carbon cycle and global concerns on environment

AN ASSIGNMENT ON
‘CARBON CYCLE’
AND
‘GLOBAL CONCERNS ON
ENVIRONMENT’
(FUNDAMENTAL OF ECOLOGY)
SUBMITTED BY:
RAJAT NAINWAL
M. ARCH. – I SEM
17M809
NIT, HAMIRPUR

CARBON: THE BUILDING BLOCK OF LIFE
All living things are made of elements, the most abundant of which are, oxygen, carbon,
hydrogen, nitrogen, calcium, and phosphorous. Of these, carbon is the best at joining with other
elements to form compounds necessary for life, such as sugars, starches, fats, and proteins.
Together, all these forms of carbon account for approximately half of the total dry mass of living
things.
Carbon is also present in the Earth's
atmosphere, soils, oceans, and crust. When
viewing the earth as a system, these
components can be referred to as carbon
pools (sometimes also called stocks or
reservoirs) because they act as storage houses
for large amounts of carbon. Any movement
of carbon between these reservoirs is called a
flux. In any integrated system, fluxes connect
reservoirs together to create cycles and
feedbacks. An example of such a cycle is seen
in figure 1, where, carbon in the atmosphere
is used in photosynthesis to create new plant
material.
Figure 1 - A sub-cycle within the global carbon cycle. Carbon
continuously moves between the atmosphere, plants and soils
through photosynthesis, plant respiration, harvesting, fire and
decomposition.
On a global basis, this processes
transfers large amounts of carbon
from one pool (the atmosphere) to
another (plants). Over time, these
plants die and decay, are harvested
by humans, or are burned either for
energy or in wildfires. All of these
processes are fluxes that can cycle
carbon among various pools within
ecosystems and eventually releases
it back to the atmosphere. Viewing
the Earth as a whole, individual
cycles like this are linked to others
involving oceans, rocks, etc. on a
range of spatial and temporal scales
to form an integrated global carbon
cycle (figure 2).
Figure 2 - A simplified diagram of the global carbon cycle. Pool sizes,
shown in blue, are given in petagrams (Pg) of carbon. Fluxes, shown in
red, are in Pg per year.

On the shortest time scales, of seconds to minutes, plants take carbon out of the atmosphere
through photosynthesis and release it back into the atmosphere via respiration.
On longer time scales, carbon from dead plant material can be incorporated into soils, where it
might reside for years, decades or centuries before being broken down by soil microbes and
released back to the atmosphere.
On still longer time scales, organic matter1 that became buried in deep sediments (and protected
from decay) was slowly transformed into deposits of coal, oil and natural gas, the fossil fuels we
use today. When we burn these substances, carbon that has been stored for millions of years is
released once again to the atmosphere in the form of carbon dioxide (CO2).
The carbon cycle has a large effect on the function and well being of our planet. Globally, the
carbon cycle plays a key role in regulating the Earth’s climate by controlling the
concentration of carbon dioxide in the atmosphere. Carbon dioxide (CO2) is important
because it contributes to the greenhouse effect, in which heat generated from sunlight at the
Earth’s surface is trapped by certain gasses and prevented from escaping through the atmosphere.
The greenhouse effect itself is a perfectly natural phenomenon and, without it, the Earth would be
a much colder place. But as is often the case, too much of a good thing can have negative
consequences, and an unnatural buildup of greenhouse gasses can lead to a planet that gets
unnaturally hot. In recent years CO2 has received much attention because its concentration in the
atmosphere has risen to approximately 30% above natural background levels and will continue to
rise into the near future. Scientists have shown that this increase is a result of human activities
that have occurred over the last 150 years, including the burning of fossil fuels and deforestation.
Because CO2 is a greenhouse gas, this increase is believed to be causing a rise in global
temperatures. This is the primary cause of climate change and is the main reason for
increasing interest in the carbon cycle.
CARBON POOLS
Depending on our goals, the Earth’s carbon pools can be grouped into any number of different
categories.
1. The Earth’s Crust: The largest amount of carbon on earth is stored in sedimentary rocks
within the planet’s crust. These are rocks produced either by the hardening of mud
(containing organic matter) into shale over geological time, or by the collection of calcium
carbonate particles, from the shells and skeletons of marine organisms, into limestone and
other carbon containing sedimentary rocks.

2. Oceans: Most of the carbon present in the earth’s ocean is in the form of dissolved
inorganic carbon stored at great depths where it resides for long periods of time. A much
smaller amount of carbon, is located near the ocean surface. This carbon is exchanged
rapidly with the atmosphere through both physical processes, such as CO2 gas dissolving
into the water, and biological processes, such as the growth, death and decay of plankton.
Although most of this surface carbon cycles rapidly, some of it can also be transferred by
sinking to the deep ocean pool where it can be stored for a much longer time.
3. Atmosphere: The carbon present in the atmosphere is in the form of CO2, with much
smaller amounts of methane (CH4) and various other compounds. Although this is
considerably less carbon than that contained in the oceans or crust, carbon in the
atmosphere is of vital importance because of its influence on the greenhouse effect and
climate. The relatively small size of the atmospheric carbon pool also makes it more
sensitive to disruptions caused by an increase in sources or sinks of carbon from the
Earth’s other pools. In the context of global pools and fluxes, the increase that has
occurred in the past several centuries is the result of carbon fluxes to the atmosphere from
the crust (fossil fuels) and terrestrial ecosystems (via deforestation and other forms of land
clearing).
4. Terrestrial Ecosystems: It contains carbon in the form of plants, animals, soils and
microorganisms (bacteria and fungi). Of these, plants and soils are by far the largest and,
when dealing with the entire globe, the smaller pools are often ignored. Unlike the Earth’s
crust and oceans, most of the carbon in terrestrial ecosystems exists in organic forms. In
this context, the term “organic” refers to compounds produced by living things, including
leaves, wood, roots, dead plant material and the brown organic matter in soils (which is the
decomposed remains of formerly living tissues). Plants exchange carbon with the
atmosphere relatively rapidly through photosynthesis, in which CO2 is absorbed and
converted into new plant tissues, and respiration, where some fraction of the previously
captured CO2 is released back to the atmosphere as a product of metabolism.
CARBON FLUXES
The movement of any material from one place to another is called a flux. A single carbon pool
can often have several fluxes both adding and removing carbon simultaneously. For example, the
atmosphere has inflows from decomposition (CO2 released by the breakdown of organic matter),
forest fires and fossil fuel combustion and outflows from plant growth and uptake by the oceans.
The size of various fluxes can vary widely.

1. Photosynthesis: During photosynthesis, plants use energy from sunlight to combine CO2
from the atmosphere with water from the soil to create carbohydrates. In this way, CO2 is
removed from the atmosphere and stored in the structure of plants. Virtually all of the
organic matter on Earth was initially formed through this process. When plants die, their
tissues remain for a wide range of time periods. Tissues such as leaves, which have a high
quality for decomposer organisms, tend to decay quickly, while more resistant structures,
such as wood can persist much longer.
2. Plant Respiration: Plants also release CO2 back to the atmosphere through the process of
respiration (the equivalent for plants of exhaling). Respiration occurs as plant cells use
carbohydrates, made during photosynthesis, for energy. Plant respiration represents
approximately half of the CO2 that is returned to the atmosphere in the terrestrial portion of
the carbon cycle.
3. Litterfall: In addition to the death of whole plants, living plants also shed some portion of
their leaves, roots and branches each year. Because all parts of the plant are made up of
carbon, the loss of these parts to the ground is a transfer of carbon (a flux) from the plant to
the soil.
4. Soil Respiration: The release of CO2 through respiration is not unique to plants, but is
something all organisms do, including microscopic organisms living in soil. Because it can
take years for a plant to decompose (or decades in the case of large trees), carbon is
temporarily stored in the organic matter of soil.
5. Ocean-Atmosphere exchange: Inorganic carbon is absorbed and released at the interface
of the ocean’s surface and surrounding air, through the process of diffusion. The formation
of carbonate in seawater allows oceans to take up and store a much larger amount of
carbon than would be possible if dissolved CO2 remained in that form. Carbonate is also
important to a vast number of marine organisms that use this mineral form of carbon to
build shells. Carbon is also cycled through the ocean by the biological processes of
photosynthesis, respiration, and decomposition of aquatic plants.
6. Fossil fuel combustion and land cover change: The carbon fluxes discussed thus far
involve natural processes that have helped regulate the carbon cycle and atmospheric CO2
levels for millions of years. However, the modern-day carbon cycle also includes several
important fluxes that stem from human activities. The most important of these is
combustion of fossil fuels: coal, oil and natural gas. These materials contain carbon that
was captured by living organisms over periods of millions of years and has been stored in
various places within the Earth's crust.

7. Geological Processes: Rocks on land are broken down by the atmosphere, rain, and
groundwater into small particles and dissolved materials, a process known as weathering.
These materials are combined with plant and soil particles that result from decomposition
and surface erosion and are later carried to the ocean where the larger particles are
deposited near shore. Slowly, these sediments accumulate, burying older sediments below.
The layering and burial of sediment causes pressure to build, which eventually becomes so
great that deeper sediments are turned into rock, such as shale. Within the ocean water
itself, dissolved materials mix with seawater and are used by marine life to make calcium
carbonate (CaCO3) skeletons and shells. When these organisms die, their skeletons and
shells sink to the bottom of the ocean. In shallow waters (less than 4km) the carbonate
collects and eventually forms another type of sedimentary rock called limestone.
HOW MUCH CARBON DO HUMANS EMIT?
Nature absorbs 788 billion tonnes of carbon every year. Natural absorptions roughly balance
natural emissions. Humans upset this balance. While some of our human-produced carbon
dioxide emissions are being absorbed by the ocean and land plants, around half of our carbon
dioxide emissions remain in the air.
Carbon sequestration: The uptake and storage of carbon. Trees and plants, for example, absorb
carbon dioxide, release the oxygen and store the carbon.
Carbon sink: A carbon reservoir that takes in and stores more carbon than it releases. It can
serve to partially offset greenhouse gas emissions. Forests and oceans are both large carbon sinks.
Global warming: A popular term used to describe the increase in average global temperatures
due to the greenhouse effect. It is often used interchangeably with the term climate change.
Greenhouse effect: A popular term used to describe the roles of water vapor, carbon dioxide,
methane, and other gases (greenhouse gases - GHG) in keeping the Earth's surface warmer
than it would be otherwise.
Figure 3 - Human produced carbon dioxide emissions have been
increasing since the Industrial Revolution.
Figure 4 - The arrows in the image show the amount of carbon
that is exchanged between the atmosphere and the other Earth
spheres. The numbers are in billions of tonnes of carbon
dioxide.

GLOBAL ENVIRONMENTAL CONCERNS
GLOBAL ENVIRONMENTAL ISSUES
The last few decades have seen many treaties, conventions, and protocols for the cause of global
environmental protection. Few examples of environmental issues of global significance are:
• Ozone layer depletion
• Global warming
• Loss of biodiversity
One of the most important characteristics of this environmental degradation is that it affects all
mankind on a global scale without regard to any particular country, region, or race. The whole
world is a stakeholder and this raises issues on who should do what to combat environmental
degradation.
OZONE LAYER DEPLETION
Figure 6 - Ozone Production and Destruction Process
Ozone is produced and destroyed naturally in the atmosphere and until recently, this resulted in a
well-balanced equilibrium (see figure 6). Ozone is formed when oxygen molecules absorb
ultraviolet radiation with wavelengths less than 240 nm and is destroyed when it absorbs
ultraviolet radiation with wavelengths greater than 290 nm. In recent years, scientists have
measured a seasonal thinning of the ozone layer primarily at the South Pole. This phenomenon is
being called the ozone hole.
Earth’s atmosphere is divided into three regions, namely
troposphere, stratosphere and mesosphere (see figure 5).
The stratosphere extends from 10 to 50 kms from the
Earth’s surface. This region is concentrated with slightly
pungent smelling, light bluish ozone gas. The ozone gas
is made up of molecules each containing three atoms of
oxygen; its chemical formula is O3
. The ozone layer, in
the stratosphere acts as an efficient filter for harmful
solar Ultraviolet B (UV-B) rays.
Figure 5

Effects of Ozone Layer Depletion
1. Effects on Human and Animal Health: Increased penetration of solar UV-B radiation is
likely to have high impact on human health with potential risks of eye diseases, skin cancer
and infectious diseases.
2. Effects on Terrestrial Plants: In forests and grasslands, increased radiation is likely to
change species composition thus altering the bio-diversity in different ecosystems. It could
also affect the plant community indirectly resulting in changes in plant form, secondary
metabolism, etc.
3. Effects on Aquatic Ecosystems: High levels of radiation exposure in tropics and
subtropics may affect the distribution of phytoplanktons, which form the foundation of
aquatic food webs. It can also cause damage to early development stages of fish, shrimp,
crab, amphibians and other animals, the most severe effects being decreased reproductive
capacity and impaired larval development.
4. Effects on Bio-geo-chemical Cycles: Increased solar UV radiation could affect terrestrial
and aquatic bio-geo-chemical cycles thus altering both sources and sinks of greenhouse
and important trace gases, e.g. carbon dioxide (CO2
), carbon monoxide (CO), carbonyl
sulfide (COS), etc. These changes would contribute to biosphere-atmosphere feedbacks
responsible for the atmosphere build-up of these greenhouse gases.
5. Effects on Air Quality: Reduction of stratospheric ozone and increased penetration of
UV-B radiation result in higher photo dissociation rates of key trace gases that control the
chemical reactivity of the troposphere. This can increase both production and destruction
of ozone and related oxidants such as hydrogen peroxide, which are known to have adverse
effects on human health, terrestrial plants and outdoor materials.
GLOBAL WARMING
Before the Industrial Revolution, human activities released very few gases into the atmosphere
and all climate changes happened naturally. After the Industrial Revolution, through fossil fuel
combustion, changing agricultural practices and deforestation, the natural composition of gases in
the atmosphere is getting affected and climate and environment began to alter significantly. Over
the last 100 years, it was found out that the earth is getting warmer and warmer, unlike previous
8000 years when temperatures have been relatively constant. The present temperature is 0.3 - 0.6
o
C warmer than it was 100 years ago. The key greenhouse gases (GHG) causing global warming
is carbon dioxide. CFC's, even though they exist in very small quantities, are significant
contributors to global warming. Carbon dioxide, one of the most prevalent greenhouse gases in
the atmosphere, has two major anthropogenic (human-caused) sources: the combustion of fossil
fuels and changes in land use.

Global Warming (Climate Change) Implications
1. Rise in global temperature- Observations show that global temperatures have risen by
about 0.6 °C over the 20th century. There is strong evidence now that most of the observed
warming over the last 50 years is caused by human activities. Climate models predict that
the global temperature will rise by about 6 °C by the year 2100.
2. Rise in sea level- In general, the faster the climate change, the greater will be the risk of
damage. The mean sea level is expected to rise 9-88 cm by the year 2100, causing flooding
of low lying areas and other damages.
3. Food shortages and hunger- Water resources will be affected as precipitation and
evaporation patterns change around the world. This will affect agricultural output. Food
security is likely to be threatened and some regions are likely to experience food shortages
and hunger.
LOSS OF BIODIVERSITY
Biodiversity refers to the variety of life on earth, and its biological diversity. The number of
species of plants, animals, micro organisms, the enormous diversity of genes in these species, the
different ecosystems on the planet, such as deserts, rainforests and coral reefs are all a part of a
biologically diverse earth. Biodiversity actually boosts ecosystem productivity where each
species, no matter how small, all have an important role to play and that it is in this combination
that enables the ecosystem to possess the ability to prevent and recover from a variety of
disasters. It is now believed that human activity is changing biodiversity and causing massive
extinctions.
Figure 7 - %Share of Greenhouse Gases
Net releases of carbon dioxide from these two sources
are believed to be contributing to the rapid rise in
atmospheric concentrations since Industrial
Revolution. Because estimates indicate that
approximately 80% of all anthropogenic carbon
dioxide emissions currently come from fossil fuel
combustion, world energy use has emerged at the
center of the climate change debate. Some greenhouse
gases occur naturally in the atmosphere, while others
result from human activities. Naturally occurring
greenhouse gases include water vapor, carbon dioxide,
methane, nitrous oxide, and ozone (refer figure 7).

The World Resource Institute reports that there is a link between biodiversity and climate change.
Rapid global warming can affect ecosystems chances to adapt naturally. Over the past 150 years,
deforestation has contributed an estimated 30 percent of the atmospheric build-up of CO2
. It is
also a significant driving force behind the loss of genes, species, and critical ecosystem services.
Link between Biodiversity and Climate change -
Climate change is affecting species already threatened by multiple threats across the globe.
Habitat fragmentation due to colonization, logging, agriculture and mining etc. are all
contributing to further destruction of terrestrial habitats.
1. Individual species may not be able to adapt. Species most threatened by climate change
have small ranges, low population densities, restricted habitat requirements and patchy
distribution.
2. Ecosystems will generally shift northward or upward in altitude, but in some cases they
will run out of space – as 1
0
C change in temperature correspond to a 100 Km change in
latitude, hence, average shift in habitat conditions by the year 2100 will be on the order
of 140 to 580 Km.
3. Coral reef mortality may increase and erosion may be accelerated. Increase level of
carbon dioxide adversely impact the coral building process (calcification).
4. Sea level may rise, engulfing low-lying areas causing disappearance of many islands,
and extinctions of endemic island species.
5. Invasive species may be aided by climate change. Exotic species can out-compete
native wildlife for space, food, water and other resources, and may also prey on native
wildlife.
6. Droughts and wildfires may increase. An increased risk of wildfires due to warming and
drying out of vegetation is likely.
7. Sustained climate change may change the competitive balance among species and might
lead to forests destruction

CLIMATIC CHANGE PROBLEM AND RESPONSE
THE UNITED NATIONS FRAMEWORK CONVENTION ON CLIMATE CHANGE (UNFCCC)
In June 1992, the “United Nations Framework Convention on Climate Change” (UNFCCC) was
signed in Rio de Janeiro by over 150 nations. The climate convention is the base for international
co-operation within the climate change area. In the convention the climate problem’s seriousness
is stressed. There is a concern that human activities are enhancing the natural greenhouse effect,
which can have serious consequences on human settlements and ecosystems. The convention’s
overall objective is “the stabilization of greenhouse gas concentrations in the atmosphere at a
level that would prevent dangerous anthropogenic interference with the climate system.”
The principle commitment applying to parties of the convention is the adoption of policies and
measures on the mitigation of climate change, by limiting anthropogenic emissions of greenhouse
gases and protecting and enhancing greenhouse gas sinks and reservoirs. The commitment
includes the preparation and communication of national inventories of greenhouse gases.
The deciding body of the climate convention is the Conference of Parties (COP). At the COP
meetings, obligations made by the parties are examined and the objectives and implementation of
the climate convention are further defined and developed. The first COP was held in Berlin,
Germany in 1995 and the latest (COP 10) was held in December 2004, Buenos Aires, Argentina.
THE KYOTO PROTOCOL
There is a scientific consensus that human activities are causing global warming that could result
in significant impacts such as sea level rise, changes in weather patterns and adverse health
effects. As it became apparent that major nations such as the United States and Japan would not
meet the voluntary stabilization target by 2000, Parties to the Convention decided in 1995 to enter
into negotiations on a protocol to establish legally binding limitations or reductions in greenhouse
gas emissions. It was decided by the Parties that this round of negotiations would establish
limitations only for the developed countries, including the former Communist countries.
Negotiations on the Kyoto Protocol to the UNFCCC were completed December 11, 1997,
committing the industrialized nations to specify, legally binding reductions in emissions of six
greenhouse gases. The 6 major greenhouse gases covered by the protocol are carbon dioxide
(CO2
), methane (CH4
), nitrous oxide (N2
O), hydrofluorocarbons (HFCs), perfluorocarbons
(PFCs), and sulfur hexafluoride (SF6
).

Emissions Reductions
The United States would be obligated under the Protocol to a cumulative reduction in its
greenhouse gas emissions of 7% below 1990 levels for three greenhouse gases (including carbon
dioxide), and below 1995 levels for the three man-made gases, averaged over the commitment
period 2008 to 2012.
The Protocol states that “developed countries are committed, individually or jointly, to
ensuring that their aggregate anthropogenic carbon dioxide equivalent emissions of
greenhouse gases do not exceed amounts assigned to each country with a view to reducing
their overall emissions of such gases by at least 5% below 1990 levels in the commitment
period 2008 to 2012.” The amounts for each country are listed as percentages of the base year,
1990 and range from 92% (a reduction of 8%) for most European countries, to 110% (an increase
of 10%) for Iceland.
Who is bound by the Kyoto Protocol?
The Kyoto Protocol has to be signed and ratified by 55 countries (including those responsible for
at least 55% of the developed world's 1990 carbon dioxide emissions) before it can enter into
force. Now that Russia has ratified, this been achieved and the Protocol will enter into force on
16 February 2005.
THE CONFERENCE OF THE PARTIES (COP)
The Conference of the Parties is the supreme body of the Climate Change Convention. The vast
majority of the world’s countries are members (185 as of July 2001). The Convention enters into
force for a country 90 days after that country ratifies it. The COP held its first session in 1995 and
will continue to meet annually unless decided otherwise. However, various subsidiary bodies that
advise and support the COP meet more frequently.
The Convention states that “the COP must periodically examine the obligations of the Parties
and the institutional arrangements under the Convention. It should do this in light of the
Convention’s objective, the experience gained in its implementation, and the current state
of scientific knowledge.”
Support for Developing countries
Developing countries need support so that they can submit their national communications, adapt
to the adverse effects of climate change, and obtain environmentally sound technologies. The
COP therefore oversees the provision of new and additional resources by developed countries.
The third session of the Conference of the Parties adopted the Kyoto Protocol.

The Flexible Mechanisms
The Kyoto protocol gives the Annex I countries the option to fulfill a part of their commitments
through three “flexible mechanisms”. Through these mechanisms, a country can fulfill a part of
their emissions reductions in another country or buy emission allowances from another country.
There are three flexible mechanisms:
a. Emissions trading
b. Joint implementation
c. Clean development mechanism
a) Emissions trading
Article 17 of the Kyoto protocol opens up for emissions trading between countries that have
made commitments to reduce greenhouse gas emissions. The countries have the option to
delegate this right of emissions trading to companies or other organizations.
In a system for emissions trading, the total amount of emissions permitted is pre-defined. The
corresponding emissions allowances are then issued to the emitting installations through auction
or issued freely. Through trading, installations with low costs for reductions are stimulated to
make reductions and sell their surplus of emissions allowances to organizations where reductions
are more expensive. Both the selling and buying company wins on this flexibility that trade offers
with positive effects on economy, resource efficiency and climate. The environmental advantage
is that one knows, in advance, the amount of greenhouse gases that will be emitted. The
economical advantage is that the reductions are done where the reduction costs are the
lowest. The system allows for a cost effective way to reach a pre-defined target and stimulates
environmental technology development.
b) Joint Implementation, JI
Under article 6 of the Kyoto protocol an Annex I country that has made a commitment for
reducing greenhouse gases, can offer to, or obtain from another Annex I country greenhouse gas
emissions reductions. These emissions reductions shall come from projects with the objectives to
reduce anthropogenic emissions from sources or increase the anthropogenic uptake in sinks. In
order to be accepted as JI-projects, the projects have to be accepted by both parties in advance. It
also has to be proven that the projects will lead to emissions reductions that are higher than what
otherwise would have been obtained. JI-projects are an instrument for one industrial country to
invest in another industrial country and in return obtain emissions reductions. These reductions
can be used to help fulfill their own reduction commitments at a lower cost than if they had to do
the reductions in their own country.

c) Clean Development Mechanism (CDM)
Article 12 of the Kyoto protocol defines the Clean Development Mechanism, CDM. The purpose
of CDM is to:
i. contribute to sustainable development in developing countries;
ii. help Annex I-countries under the Kyoto Protocol to meet their target.
With the help of CDM, countries which have set themselves an emission reduction target under
the Kyoto Protocol (Annex I countries) can contribute to the financing of projects in developing
countries (non-Annex I countries) which do not have a reduction target. These projects should
reduce the emission of greenhouse gases while contributing to the sustainable development of the
host country involved. The achieved emission reductions can be purchased by the Annex I
country in order to meet its reduction target.
In order to be accepted as CDM-projects, the projects have to be accepted by both parties in
advance. It also has to be proven that the projects will lead to emissions reductions that are higher
than what otherwise would have been obtained.
The difference between JI-projects and CDM-projects is that JI-projects are done between
countries that both have commitments, while the CDM-projects is between one country that
has commitments and another country that does not have commitments. Emissions
reductions that have been done through CDM-projects during the period 2000 to 2007, can be
used for fulfilling commitments in Annex I countries for the period 2008-2012.
PROTOTYPE CARBON FUND (PCF)
Recognizing that global warming will have the most impact on its borrowing client countries, the
World Bank approved the establishment of the Prototype Carbon Fund (PCF). The PCF is
intended to invest in projects that will produce high quality greenhouse gas emission reductions
that could be registered with the UNFCCC for the purposes of the Kyoto Protocol. To increase
the likelihood that the reductions will be recognized by the Parties to the UNFCCC, independent
experts will follow validation, verification and certification procedures that respond to UNFCCC
rules as they develop. The PCF will pilot production of emission reductions within the framework
of Joint Implementation (JI) and the Clean Development Mechanism (CDM). The PCF will
invest contributions made by companies and governments in projects designed to produce
emission reductions fully consistent with the Kyoto Protocol and the emerging framework for JI
and the CDM. Contributors, or "Participants" in the PCF, will receive a pro rata share of the
emission reductions, verified and certified in accordance with agreements reached with the
respective countries "hosting" the projects.

Size of Market for Emissions Reductions
a. All estimates of market volume are speculative at this early stage in the market’s
development.
b. One way of looking at the potential size of the market is to assume that about one billion
tonnes of carbon emissions must be reduced per year during the commitment period of
2008-2012 in order for the industrialized countries to meet their obligations of a 5%
reduction in their 1990 levels of emissions.
Under PCF programme of the World Bank, Government of India (GOI) has approved a
municipal solid waste energy project for implementation in Chennai, which proposes to use
the state of art technology for extracting energy from any solid waste irrespective of the
energy content. Many industrial organisations in the private sector have also sought assistance
under this fund.

Carbon cycle and global concerns on environment

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