The concept of 'Carbon credit' originated from

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Kyoto Protocol. Kyoto Protocol was proposed to address and reduce greenhouse gas emission that has led to global climate change. The carbon credit system was ratified in conjunction with the Kyoto Protocol to set quotas on the amount of greenhouse gas countries can produce, which in turn set quotas for countries/ groups. The credits are awarded to the countries or groups that have reduce green house gases below their emission quota, the credit is created with the aim to limit the emission of carbon di oxides, the credits are traded under the compliance of UNFCCC.

The concept of 'Carbon credit' originated from

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