After CoP27 are Carbon Credits can be procured by developing countries? If yes, then what is the mechanism? Is it possible to give Carbon Credits to farmers.
Prof. Raut, I think carbon credits are still valid for the environment in spite of the fact that CoP27 may not have given the world what it desires in terms of Future Commitments and Realistic Targets and the like.
But at the end of the day the Companies tat are polluting the environment need to buy these carbon credits. My little knowledge of this indicates that very few countries like the USA are actually engaged with developing countries in the carbon credit market. The market needs to expand to include more companies from developed country that are Heavy Polluters to get engaged with developing countries in buying and selling of carbon credits.
Actually many farmers in developing countries have the potential and stand to gain some extra income from selling carbon credits by engaging in reafforestation, especially, Agro-Forestry. The only problem currently is the very Narrow Global Market for carbon credits and the lack of Legal Frameworks' establishments by many developing countries.
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