What is carbon credit?

Answer 1

Carbon credits are measured in units of certified emission reductions (CERs). Each CER is equivalent to one tonne of carbon dioxide reduction. India has emerged as a world leader in reduction of greenhouse gases by adopting Clean Development Mechanisms (CDMs) in the past two years.

Developed countries that have exceeded the levels can either cut down emissions, or borrow or buy carbon credits from developing countries.

Answer 2

Carbon credits basically seek to encourage countries to reduce their greenhouse gas (GHG) emissions, as it rewards those countries that meet their targets and provides financial incentives to others to do so as quickly as possible.
Hardly Flim-Flam but hard cash, because there is money to be made in all this: Surplus credits that are acquired by overshooting the emission reduction target can be sold in the global market. One credit is equivalent to one tonne of CO2 emission reduced. Carbon credits are available for companies engaged in developing renewable energy projects that offset the use of fossil fuels.
The Multi-Commodity Exchange of India (MCX), the country’s leading commodity exchange, may soon become the third exchange in the world ( = follower, not leader).

Answer 3

It is a bunch of FLIM FLAM
MUMBO JUMBO crap that
polluters and their lawyers
have devised to permit the
continued pollution of our
air.