Throughout the century of having a capitalist economy, our lives have improved in more way than imaginable. In fact, this type of economy has helped humankind progress through the years. The free market has enabled us to access resources from around the world. Different commodities and products in addition to different transportation mediums have given us access to different products we could only have imagined. This progress in development and technology has help in the building of cities with capitalism at the heart of it all. Thanks to this, we now have access to food and medicine and their availability to us has never been easier.
The thing is that despite the many achievements of humanity, the issue with capitalism is that it fails to identify the impact it has to the environment – think global warming, greenhouse effect, and climate changes – all due to carbon emissions. Ever since the growth of industries that has helped to make our lives easier, carbon emissions has grown significantly. This direct CO2 emission to the environment is the key factor in the cause of global warming. Significant increase and changes in global temperature has become detrimental on many aspects of our daily life.
Although we are able to see lakes and riverbeds drying up that can be attributed to global warming, a more serious issue is the negative impact of the melting of polar ice caps which not only can create seriously powerful tropical storms, but the increase in sea level means that some areas of the earth can also get seriously flooded. It is the carbon emission that is the cause of this global warming, and by limiting each country’s emissions, we can help in delaying some of the inevitable – giving future generations a possibly sustainable planet to live in.
The Kyoto Protocol aims to save the environment by reducing greenhouse gases emissions. It is delegated by more than a hundred countries, including Canada. One of the most effective instruments used in the limiting of carbon emissions is through the use of carbon credits. A carbon credit is equal to a ton of air being released in the atmosphere. Carbon credits play a monetary price in polluting activities. Whereas each country has a certain cap of carbon credits, these carbon credits are further distributed to industries and groups that contribute in the releasing of carbon emissions in the atmosphere.
A carbon credit is basically a carbon tax. When something is burned, it produces energy with CO2 being released in the atmosphere as part of the pollution and byproduct. By putting a limit on certain companies or industries, they will be required to create less pollution or otherwise have to buy carbon credits which will cost them significantly. Basically, it is their best interest to lessen the amount of carbon emissions they release in the atmosphere carbon credits canada follows this environmental management strictly and seriously as it aims to break free from the addition to oil as a means of powering the country and its many industries. In doing so, it will be able to prevent any further degradation to the environment.