Carbon credit international market at their current market price"”. There are two main markets for carbon credits; Compliance Market credits Secondary / Verified Market credits (VERs) The burning of fossil fuels is a major source of greenhouse gas emissions, especially for power, cement, steel, textile, fertilizer and many other industries which rely on fossil fuels (coal, electricity derived from coal, natural gas and oil). The major greenhouse gases emitted by these industries are carbon dioxide, methane, nitrous oxide, hydrofluorocarbons (HFCs), etc., all of which increase the atmosphere's ability to trap infrared energy and thus affect the climate. The concept of carbon credits
Carbon capture and storage coal accounts for around 70% of the country's energy consumption. The majority of CO emissions in China come from either coal-fired power plants or coal-to-chemical processes (e.g. the production of synthetic ammonia, methanol, fertilizer, natural gas, and CTLs). According to the IEA, around 385 out of China's 900 gigawatts of coal-fired power capacity are near locations suitable for carbon dioxide storage. In order to take advantage of these suitable storage sites (many of which are conducive to enhanced oil recovery) and reduce its carbon dioxide emissions, China has started to develop several CCS projects. Three such facilities are already operational