Advanced countries have been on the fore front in advocating for Kyoto Protocol of 1997. In the USA, the Chicago Climate Exchange has been on the frontline as an operator of the emission trading scheme. The Chicago Climate Exchange (CCX) is legal binding actually a first voluntary GHG reduction and also a trading system that aims to emit and offset projects in the Brazil and the North America. Such a scheme helps achieve reduction goals through a cost effective means and via trading emission allowances between the available participants. The Chicago Climate Exchange has proclaimed and described itself as the rules based ...
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