carbon market

[kahr-buhn mahr-kit]

noun

1. a commodity trading system through which countries and organizations can buy and sell permits to produce a set amount of carbon dioxide emissions and other atmospheric pollutants.

Word History and Origins

Origin of carbon market¹

First recorded in 1975–80

Example Sentences

Some forestry projects within the voluntary carbon market have attracted significant criticism in recent years, leading to dramatic drops in demand for carbon credits.

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Hickok said that under a range of new methodologies that are being produced by carbon market bodies, demand is resurfacing.

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The frameworks have been endorsed by several nonprofits including Ceres, the Nature Conservancy and the Voluntary Carbon Market Integrity Initiative.

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It means that a global 'carbon market' can now been established, allowing richer nations to pay for projects in developing nations that reduce emissions and use this to meet their climate obligations.

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The air board’s November vote centers on amendments to the LCFS, a carbon market program that took effect in 2011.

Read more on Los Angeles Times