The former head of BP, Lord Browne felt that to meet the desired goals of renewable energy, Great Britain should fall back on greater state control in the energy markets though market conditions are also necessary. As once he observed, “ I remain convinced that the market is the most effective delivery unit available to society. But the market will need a new strategic direction and a new framework of rules laid down by the government. ” (Rusbridger & Adam, “ State intervention vital if Britain is to meet its green energy targets, says former BP boss” ).Dr.
Martin Bergfelder, project manager of the International Carbon Action Partnership (popularly known as ICAP) rather feels the need of the hour is the public and private partnership. He feels the trust among the governments across the world with the market participants only can help the carbon market to prosper which would invariably ensure better carbon offset projects (Bergfelde, “ Carbon Markets USA” ).Role of Internet The internet has been a revolution in the world of communication. It has changed the entire tricks of the trade for almost all of traditional products and services.
So, it is evident that the internet would surely influence the non-conventional trade of carbon and also the offset projects. The success of the internet is that it made all the necessities just far away from a click of a mouse. Traditionally, carbon offsetting was basically taken up by non-profit and non-government organizations. But recent trades show that even the big corporate houses along with the governments are initiating such measures. It generally involves two methods namely investing in projects that would develop research and development and would reduce carbon dependency and the other method is to plant more trees i. e.
afforestation so that the ill effects of carbon emission are reduced. The objective of such a project is to stay carbon positive or carbon neutral, if not carbon positive. The Internet has brought all the relevant parties to come closer. The small carbon suppliers, for the parties it could be really tough to find the carbon purchasers, can reap the benefits of the internet and can easily find the desired purchasing parties. The internet acts as the place of exchange among various interested parties of carbon trading.
The entire carbon market has evolved keeping the internet in the backdrop. The concept of carbon trade evolves around the REC (Renewable Energy Certificates). REC can be referred to as the mechanism that helps various governments, business houses, industry leaders and even homeowners purchase clean energy.
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