Among the major objectives of the Glasgow Summit was to frame the foundation of an international carbon trading system listed in the Paris Agreement to achieve the target of net zero -emissions by 2050. It would enable nations to transfer credits to each other and offset their emission targets. Critics of the trading system, and there are many, say it would give leeway to developed countries and companies that are highly polluting to stave off making deeper cuts in their low emissions by buying credits from poorer countries at exploitative prices. There are also major differences over whether the new trading system will recognize historical emissions permitted under earlier protocols. Others want rules that permit double credits for the nation funding a particular carbon reducing project, such as the regeneration of forests to act as a carbon sink, and for the country implementing it. A third issue is whether a share of the revenue from such a bilateral trading agreement will go toward the UN’s Adaptation Fund. There have also been concerns about the integrity of the accounting system for such credits.
1. What is ‘international carbon trading system’ here?
(a) Counting carbon emissions by poor countries
(b) A system of counting carbons every year
(c) The exchange of carbon credits between nations
(d) Counting how developed countries evade accountability
2. What is the third issue being mentioned in the context of ‘share of the revenue?
(a) The revenue may not be shared with UN’s Adaptation Fund.
(b) Developed countries would take the revenue from bilateral trading agreements.
(c) Poor countries will have to shoulder the major responsibilities.
(d) Accounting system will be in the hands of developed countries.
3. forests to act as a carbon sink’ means
(a) Forests reduce carbon emission.
(b) Depletion of forest cover adds to carbon emission.
(c) Forests cannot reduce carbon emission
(d) Forests can improve the environment.
4. What is the concern about the integrity of the accounting system?
(a) Developed countries and companies would not be adhering to the credit system.
(b) Developed countries and companies would be adhering to the credit system.
(c) Poor countries would not be adhering to the credit system on carbon emission.
(d) Poor countries would be adhering to the credit system on carbon emission.
5. Which of the following words is nearer to the meaning of the word ‘protocol’ in the text?
(a) final truth
(b) school of thought
(c) formal ways of doing something
(d) meeting the target of 100%