Global Warming & Wind Fall gains for Indian Companies [Draft no 1] Every dark cloud has a silver lining. Similarly threatening Global Warming phenomenon has thrown up new opportunities in the form of ‘Carbon Trading’. The Kyoto Protocol, which was adopted in 1997 to reduce greenhouse gases that cause global warming, came into force in 2005. The protocol has been ratified by 175 countries, including those in the European Union, Japan, Canada and Russia (USA is a notable non signatory). Something that began as an effort to drive away greenhouse gases from the atmosphere has paved the way for a business opportunity. Under Kyoto Protocol Governments are separated into two general categories: developed countries, referred to as Annex I countries and developing countries, referred to as Non-Annex I countries. As of November 2007, 174 parties have ratified the protocol. Of these, 36 developed countries (plus the EU as a party in its own right) have accepted greenhouse gas emission reduct...
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