• question_answer Regarding 'Carbon Credits' which one of the following statements is not correct? A)  The carbon credit system was ratified in conjunction with the Kyoto Protocol B)  Carbon credits are awarded to countries or groups that have reduced greenhouse gases below their emission level C)  The goal of the carbon credit system is to limit the increase of carbon dioxide emission D)  Carbon credits are traded at a price fixed from time to time by United Nations Environment Programme

'Carbon credits' is a generic term for any tradable certificate or permit representing the right to emit one ton of carbon dioxide or mass of another greenhouse gas with a $C{{O}_{2}}$ equivalent ton of $C{{O}_{2}}$.