What picture does the title of this post brings to your mind? Six months back if I had heard this term I would have imagined six to seven sacks of coal being packed in a tricycle by two to three workers with beedis in their mouth and being sent away. But surprisingly its not carbon trading.It involves UNO, and the intellectuals from all over the globe.

Concept and Implementation:

The concept behind it is like this. Say you have a younger brother. Your dear dad gives each of you a crayon set and tells you should not bother him for more crayons. You draw a lot and it seems you will finish all the crayons very soon. This leaves you with two options. One option is you can reduce the crayon usage. The other option is you can teach your younger brother pencil art where he need not use crayon much and you can get the crayon later from him by giving him something.If you are going to get one crayon from him you should give him two chocolates.

Now you or the elder one is the developed country. The cute younger brother is the developing country. The crayons are nothing but carbon.The dad who sets limit on crayon usage is United Nations Framework Convention on Climate Change.This plan is formulated in Kyoto Protocol,one of the many conferences arranged by UN on global issues. Let me explain. Say a company is operating in Europe. It is currently producing X amount of carbon which exceeds the norm by Y. It must reduce the emission. It can either adopt green technologies in Europe or help its subsidary in India to adopt green technologies(teaching pencil art) so that the emissions in India will be lesser than those set by the UNFCC(lesser than one crayon set promised by Daddy). Say by the use of technologies the emission in developing country is Y less than the norm set by UNFCC. Then the Y is credited in the developing country account. Now the Plant in developed country can buy Y from the developing nation and use it.

In India carbon is included as a commodity in Multi Commodity Exchange (MCX).MCX is the exchange in Asia to trade carbon credits. Any company in India or any developing nation in Kyoto Protocol can contact United Nations Framework Convention on Climate Change and know the ’standard’ level of carbon emission allowed for its outfit or activity. The extent to which It is emitting less carbon (as per standard fixed by UNFCCC) it will be credited.

Role Of few Developed nations:

You will be astonished to know that America refused to sign Kyota Protocol. Like a whining child it pointed his fingers towards China and told, “I wont accept these carbon emission limits until China and India accepts.It is the largest producer of Carbon”. Let me confess. I have never seen such an illogical argument from a responsible country. US contributes 5% of world’s population. China constitutes 20% of the world’s population. Now Hold your breath. China constitutes 24% of world’s carbon emission and USA constitutes 22%!So,In carbon di oxide emissions per capita list China stands in 91st rank whereas USA is in 10th position.Similarly Australia has also refused to sign Kyoto protocol.

Impact of Recession on Carbon Trading:

As per Kyoto Protocol developed countries should meet the norms set by UNFCC by 2012. When carbon trading is implemented(By 2008),the economy was in boom and the production was high. So there was a great demand for these carbon credits . What the great men had in their mind while planning this wonderful scheme is that due to the increasing demand the price of carbon credits will be very high.So they expected that the companies instead of spending huge money on buying carbon credits will invest in green technologies and greatly reduce the usage of fossil fuels or anything that will create green house gases by 2012. They were true as the rates went as high as 36 euros for 1 tonne of carbon emission.But due to the meltdown the production has gone done. Obviously there is no great demand for carbon. Now the rate is in single digit like 7 euros for one ton of carbon emission. So instead of concentrating on green technologies developed nations are buying a lot of these carbon credits at throw away prices and using them. Unfortunately the dream of creating a better world by 2012 still remains a dream.

Its time for parties and fun. Have you ever wondered who started these new year parties? It was started by Babylonians nearly four thousand years ago! Loud music and crackers are supposed to drive away the demons. So if you hear any of your aunts or grannies grumbling about the today’s youth and parties please take some time,explain the history and make it clear that it was our ancestors to be blamed. They even had the habit of making new year resolutions! The resolution was to return the farm tools they borrowed from their acquaintances.

Many ancient civilizations follow Julian calendar in which new year starts in April. Even Tamil new year usually falls in April. In 1582, Pope Gregory XIII ordered a new calendar, the Gregorian Calendar to replace the old Julian Calendar. According to this new calendar New Year starts on January 1. People who refused to accept this new calendar or the people who were unaware of the change and continued with the April new year celebrations were teased as fools and thus came one of the funniest day ‘April Fools day!’ This is a belief and there is no historical evidence behind it.

Initially I didn’t intend to list down the positives and negatives of this year. But everywhere I find people talking only about the negatives of this year. Obama’s victory is the only positive thing which people can recollect. This year too has its own fair share of positives.  One of the greatest achievement in this year is the return of democracy in Pakistan. Kudos to the brave citizens of  Pakistan who casted their votes and to the media which dint buckle down under military rule. An equally brave action was that of peoples turn out in the recent elections in Kashmir. That is really great. Lets sincerely hope and pray that the new government lives upto the people’s expectations.

One of the other unsung great show of people’s maturity is the recent state elections in Delhi,Rajasthan,MP,Chattisgarh and Mizoram. I was totally awed by the voters in Delhi. Just imagine. The country’s financial capital is almost in siege. Terrorsits have captured the imporatant landmarks and the fight is still going on. There is a non stop coverage of the situation in all television channels. Still People in capital city, vote and elect the ruling party again!! Doesnt it show their maturity and clarity of thought? I am not in support of any parties. But I was really put off when BJP could not attend the All Party meeting as Advani had to attend an election rally. People have sent a strong message that politicians cant count on turning the emotions of people into votes.

Do I have to tell anything about Obama’s victory that showed the power of people? Guess I need not. Whole world knows it.  So in retrospect I feel this is the year in which the common people have sent strong messages to the world,not through violence but through democracy and the right to vote!

This is also a year in which Chandrayaan was launched to moon. An acheivement which everyone can be really proud of. This is a year in which developing countries like India and China are looked upon with new respect as the bailout package for entire global meltdown.

This is also a year of enlightment. The financial meltdown and wall street tragedies have once again reminded the world, the impacts of greediness and need to take informed decisions.

Lets pray for peace and joy!

Bonne année!!!