Adwita Manocha, Symbiosis Law School, Noida
Shivam Choudhary, National Law University, Ranchi
INTRODUCTION
This research article aims to firstly highlight the need of climate change and then further establish what carbon markets are followed by related mechanisms under both Kyoto Protocol and Paris Agreement. The following research also highlights the effectiveness of Carbon markets mechanisms and is concluded with problems and possible solutions. In a nutshell we will examine the overall effectiveness of the Carbon Markets from Kyoto Protocol to Paris Agreement.
Climate change is one of the most pressing global challenges of our time. It refers to significant and lasting alterations in the Earth's climate patterns, including changes in temperature, precipitation, and weather events. While climate change is a natural process, the current rapid changes are primarily driven by human activities, particularly the emission of greenhouse gases (GHGs) such as carbon dioxide (CO2), methane (CH4), and nitrous oxide (N2O). This article will also highlight the causes and consequences of climate change and emphasizes the urgent need for mitigation and adaptation measures. It has a wide range of impacts that affect the environment, ecosystems, human societies, and economies. These impacts are increasingly evident and are projected to become more severe in the coming decades if effective mitigation and adaptation measures are not taken.
