Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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</span></span></code></pre><pre id="cakeErr67ff39e26c23f-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
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The European Commission&amp;rsquo;s decision to exclude two key ozone-depleting gases from the purview of carbon trading from 2013 would have negative implications for global warming. The two industrial emissions marked for this purpose are Hydrofluorocarbon-23 (HFC-23), essentially trifluoromethane, and nitrous oxide. These are highly potent greenhouse gases (GHGs) that together account for the bulk of the trade under the EU&amp;rsquo;s emission trading system, which is, by far, the world&amp;rsquo;s largest certified emission reduction (CER) trading market under clean development mechanism (CDM) of the Kyoto Protocol. It is noteworthy that HFC-23, produced as an unwanted byproduct in making HCFC-22 (essentially chloro-difluoromethane used for refrigeration) is nearly 12,000 times more harmful to the environment than carbon dioxide. In 2009, nearly 60 per cent of the carbon credits traded in the EU are reckoned to have come from the destruction of HFC-23 alone. Nitrous oxide gas, another highly potent GHG responsible for global warming, is produced in hydro-chemical and fertiliser industries during the production of adipic acid, an industrial chemical used in nylon production. The sale of carbon credits earned by offsetting these environment-injurious gases is a significant source of revenue for these industries in China, India and several other developing countries. Though HCFC-22 is also not an absolutely safe refrigerant, developing countries are allowed to produce and use them till 2030 under the Montreal Protocol. Many developed countries have already stopped making HCFC-22, though they are obliged to phase them out only by 2020.&lt;br /&gt;
&lt;br /&gt;
That said, the EU has good reasons for barring from carbon trading the offsets from these two GHGs. Installation of HFC-23 destruction facility does not cost much, though the profits it generates are substantial. The returns on investment, therefore, seem disproportionately exorbitant and can, arguably, act as a perverse incentive to continue to produce or even increase the production of these gases. Such arguments tend to justify debarring these gases from being traded in the present carbon market. But, at the same time, the consequences of doing so seem too worrisome to toe this line. There would be no incentive for the chemical industries to trap and destroy these gases to prevent them from entering the atmosphere. Given their woefully high potential to damage the ozone layer, any unchecked release into the atmosphere will undo much of the gain from global efforts to mitigate global warming. The tradable amounts of credits from these gases have been capped at the 2004-05 level. The issue of unduly large returns can also be addressed through a system of differential pricing for various GHGs, linking price cuts or premiums to the investments required in trapping and destroying them. The Montreal protocol provides for financing and pricing of the destruction of HFC-23 on the basis of its actual cost per tonne, which would work out far lower than the market prices of carbon credits. Working out such solutions will be better than blanket bans.
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Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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The European Commission&rsquo;s decision to exclude two key ozone-depleting gases from the purview of carbon trading from 2013 would have negative implications for global warming. The two industrial emissions marked for this purpose are Hydrofluorocarbon-23 (HFC-23), essentially trifluoromethane, and nitrous..."/>
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                <strong>EU and carbon trading</strong></h1>
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                <div align="justify">The European Commission&rsquo;s decision to exclude two key ozone-depleting gases from the purview of carbon trading from 2013 would have negative implications for global warming. The two industrial emissions marked for this purpose are Hydrofluorocarbon-23 (HFC-23), essentially trifluoromethane, and nitrous oxide. These are highly potent greenhouse gases (GHGs) that together account for the bulk of the trade under the EU&rsquo;s emission trading system, which is, by far, the world&rsquo;s largest certified emission reduction (CER) trading market under clean development mechanism (CDM) of the Kyoto Protocol. It is noteworthy that HFC-23, produced as an unwanted byproduct in making HCFC-22 (essentially chloro-difluoromethane used for refrigeration) is nearly 12,000 times more harmful to the environment than carbon dioxide. In 2009, nearly 60 per cent of the carbon credits traded in the EU are reckoned to have come from the destruction of HFC-23 alone. Nitrous oxide gas, another highly potent GHG responsible for global warming, is produced in hydro-chemical and fertiliser industries during the production of adipic acid, an industrial chemical used in nylon production. The sale of carbon credits earned by offsetting these environment-injurious gases is a significant source of revenue for these industries in China, India and several other developing countries. Though HCFC-22 is also not an absolutely safe refrigerant, developing countries are allowed to produce and use them till 2030 under the Montreal Protocol. Many developed countries have already stopped making HCFC-22, though they are obliged to phase them out only by 2020.<br /><br />That said, the EU has good reasons for barring from carbon trading the offsets from these two GHGs. Installation of HFC-23 destruction facility does not cost much, though the profits it generates are substantial. The returns on investment, therefore, seem disproportionately exorbitant and can, arguably, act as a perverse incentive to continue to produce or even increase the production of these gases. Such arguments tend to justify debarring these gases from being traded in the present carbon market. But, at the same time, the consequences of doing so seem too worrisome to toe this line. There would be no incentive for the chemical industries to trap and destroy these gases to prevent them from entering the atmosphere. Given their woefully high potential to damage the ozone layer, any unchecked release into the atmosphere will undo much of the gain from global efforts to mitigate global warming. The tradable amounts of credits from these gases have been capped at the 2004-05 level. The issue of unduly large returns can also be addressed through a system of differential pricing for various GHGs, linking price cuts or premiums to the investments required in trapping and destroying them. The Montreal protocol provides for financing and pricing of the destruction of HFC-23 on the basis of its actual cost per tonne, which would work out far lower than the market prices of carbon credits. Working out such solutions will be better than blanket bans.</div>               </font>
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</span></span></code>
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</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
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The European Commission&amp;rsquo;s decision to exclude two key ozone-depleting gases from the purview of carbon trading from 2013 would have negative implications for global warming. The two industrial emissions marked for this purpose are Hydrofluorocarbon-23 (HFC-23), essentially trifluoromethane, and nitrous oxide. These are highly potent greenhouse gases (GHGs) that together account for the bulk of the trade under the EU&amp;rsquo;s emission trading system, which is, by far, the world&amp;rsquo;s largest certified emission reduction (CER) trading market under clean development mechanism (CDM) of the Kyoto Protocol. It is noteworthy that HFC-23, produced as an unwanted byproduct in making HCFC-22 (essentially chloro-difluoromethane used for refrigeration) is nearly 12,000 times more harmful to the environment than carbon dioxide. In 2009, nearly 60 per cent of the carbon credits traded in the EU are reckoned to have come from the destruction of HFC-23 alone. Nitrous oxide gas, another highly potent GHG responsible for global warming, is produced in hydro-chemical and fertiliser industries during the production of adipic acid, an industrial chemical used in nylon production. The sale of carbon credits earned by offsetting these environment-injurious gases is a significant source of revenue for these industries in China, India and several other developing countries. Though HCFC-22 is also not an absolutely safe refrigerant, developing countries are allowed to produce and use them till 2030 under the Montreal Protocol. Many developed countries have already stopped making HCFC-22, though they are obliged to phase them out only by 2020.&lt;br /&gt;
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Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
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Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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The European Commission&rsquo;s decision to exclude two key ozone-depleting gases from the purview of carbon trading from 2013 would have negative implications for global warming. The two industrial emissions marked for this purpose are Hydrofluorocarbon-23 (HFC-23), essentially trifluoromethane, and nitrous..."/>
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                <strong>EU and carbon trading</strong></h1>
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                <div align="justify">The European Commission&rsquo;s decision to exclude two key ozone-depleting gases from the purview of carbon trading from 2013 would have negative implications for global warming. The two industrial emissions marked for this purpose are Hydrofluorocarbon-23 (HFC-23), essentially trifluoromethane, and nitrous oxide. These are highly potent greenhouse gases (GHGs) that together account for the bulk of the trade under the EU&rsquo;s emission trading system, which is, by far, the world&rsquo;s largest certified emission reduction (CER) trading market under clean development mechanism (CDM) of the Kyoto Protocol. It is noteworthy that HFC-23, produced as an unwanted byproduct in making HCFC-22 (essentially chloro-difluoromethane used for refrigeration) is nearly 12,000 times more harmful to the environment than carbon dioxide. In 2009, nearly 60 per cent of the carbon credits traded in the EU are reckoned to have come from the destruction of HFC-23 alone. Nitrous oxide gas, another highly potent GHG responsible for global warming, is produced in hydro-chemical and fertiliser industries during the production of adipic acid, an industrial chemical used in nylon production. The sale of carbon credits earned by offsetting these environment-injurious gases is a significant source of revenue for these industries in China, India and several other developing countries. Though HCFC-22 is also not an absolutely safe refrigerant, developing countries are allowed to produce and use them till 2030 under the Montreal Protocol. Many developed countries have already stopped making HCFC-22, though they are obliged to phase them out only by 2020.<br /><br />That said, the EU has good reasons for barring from carbon trading the offsets from these two GHGs. Installation of HFC-23 destruction facility does not cost much, though the profits it generates are substantial. The returns on investment, therefore, seem disproportionately exorbitant and can, arguably, act as a perverse incentive to continue to produce or even increase the production of these gases. Such arguments tend to justify debarring these gases from being traded in the present carbon market. But, at the same time, the consequences of doing so seem too worrisome to toe this line. There would be no incentive for the chemical industries to trap and destroy these gases to prevent them from entering the atmosphere. Given their woefully high potential to damage the ozone layer, any unchecked release into the atmosphere will undo much of the gain from global efforts to mitigate global warming. The tradable amounts of credits from these gases have been capped at the 2004-05 level. The issue of unduly large returns can also be addressed through a system of differential pricing for various GHGs, linking price cuts or premiums to the investments required in trapping and destroying them. The Montreal protocol provides for financing and pricing of the destruction of HFC-23 on the basis of its actual cost per tonne, which would work out far lower than the market prices of carbon credits. Working out such solutions will be better than blanket bans.</div>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67ff39e26c23f-trace').style.display = (document.getElementById('cakeErr67ff39e26c23f-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67ff39e26c23f-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67ff39e26c23f-code').style.display = (document.getElementById('cakeErr67ff39e26c23f-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67ff39e26c23f-context').style.display = (document.getElementById('cakeErr67ff39e26c23f-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67ff39e26c23f-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
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</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
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The European Commission&amp;rsquo;s decision to exclude two key ozone-depleting gases from the purview of carbon trading from 2013 would have negative implications for global warming. The two industrial emissions marked for this purpose are Hydrofluorocarbon-23 (HFC-23), essentially trifluoromethane, and nitrous oxide. These are highly potent greenhouse gases (GHGs) that together account for the bulk of the trade under the EU&amp;rsquo;s emission trading system, which is, by far, the world&amp;rsquo;s largest certified emission reduction (CER) trading market under clean development mechanism (CDM) of the Kyoto Protocol. It is noteworthy that HFC-23, produced as an unwanted byproduct in making HCFC-22 (essentially chloro-difluoromethane used for refrigeration) is nearly 12,000 times more harmful to the environment than carbon dioxide. In 2009, nearly 60 per cent of the carbon credits traded in the EU are reckoned to have come from the destruction of HFC-23 alone. Nitrous oxide gas, another highly potent GHG responsible for global warming, is produced in hydro-chemical and fertiliser industries during the production of adipic acid, an industrial chemical used in nylon production. The sale of carbon credits earned by offsetting these environment-injurious gases is a significant source of revenue for these industries in China, India and several other developing countries. Though HCFC-22 is also not an absolutely safe refrigerant, developing countries are allowed to produce and use them till 2030 under the Montreal Protocol. Many developed countries have already stopped making HCFC-22, though they are obliged to phase them out only by 2020.&lt;br /&gt;
&lt;br /&gt;
That said, the EU has good reasons for barring from carbon trading the offsets from these two GHGs. Installation of HFC-23 destruction facility does not cost much, though the profits it generates are substantial. The returns on investment, therefore, seem disproportionately exorbitant and can, arguably, act as a perverse incentive to continue to produce or even increase the production of these gases. Such arguments tend to justify debarring these gases from being traded in the present carbon market. But, at the same time, the consequences of doing so seem too worrisome to toe this line. There would be no incentive for the chemical industries to trap and destroy these gases to prevent them from entering the atmosphere. Given their woefully high potential to damage the ozone layer, any unchecked release into the atmosphere will undo much of the gain from global efforts to mitigate global warming. The tradable amounts of credits from these gases have been capped at the 2004-05 level. The issue of unduly large returns can also be addressed through a system of differential pricing for various GHGs, linking price cuts or premiums to the investments required in trapping and destroying them. The Montreal protocol provides for financing and pricing of the destruction of HFC-23 on the basis of its actual cost per tonne, which would work out far lower than the market prices of carbon credits. Working out such solutions will be better than blanket bans.
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Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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                <strong>EU and carbon trading</strong></h1>
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                <div align="justify">The European Commission&rsquo;s decision to exclude two key ozone-depleting gases from the purview of carbon trading from 2013 would have negative implications for global warming. The two industrial emissions marked for this purpose are Hydrofluorocarbon-23 (HFC-23), essentially trifluoromethane, and nitrous oxide. These are highly potent greenhouse gases (GHGs) that together account for the bulk of the trade under the EU&rsquo;s emission trading system, which is, by far, the world&rsquo;s largest certified emission reduction (CER) trading market under clean development mechanism (CDM) of the Kyoto Protocol. It is noteworthy that HFC-23, produced as an unwanted byproduct in making HCFC-22 (essentially chloro-difluoromethane used for refrigeration) is nearly 12,000 times more harmful to the environment than carbon dioxide. In 2009, nearly 60 per cent of the carbon credits traded in the EU are reckoned to have come from the destruction of HFC-23 alone. Nitrous oxide gas, another highly potent GHG responsible for global warming, is produced in hydro-chemical and fertiliser industries during the production of adipic acid, an industrial chemical used in nylon production. The sale of carbon credits earned by offsetting these environment-injurious gases is a significant source of revenue for these industries in China, India and several other developing countries. Though HCFC-22 is also not an absolutely safe refrigerant, developing countries are allowed to produce and use them till 2030 under the Montreal Protocol. Many developed countries have already stopped making HCFC-22, though they are obliged to phase them out only by 2020.<br /><br />That said, the EU has good reasons for barring from carbon trading the offsets from these two GHGs. Installation of HFC-23 destruction facility does not cost much, though the profits it generates are substantial. The returns on investment, therefore, seem disproportionately exorbitant and can, arguably, act as a perverse incentive to continue to produce or even increase the production of these gases. Such arguments tend to justify debarring these gases from being traded in the present carbon market. But, at the same time, the consequences of doing so seem too worrisome to toe this line. There would be no incentive for the chemical industries to trap and destroy these gases to prevent them from entering the atmosphere. Given their woefully high potential to damage the ozone layer, any unchecked release into the atmosphere will undo much of the gain from global efforts to mitigate global warming. The tradable amounts of credits from these gases have been capped at the 2004-05 level. The issue of unduly large returns can also be addressed through a system of differential pricing for various GHGs, linking price cuts or premiums to the investments required in trapping and destroying them. The Montreal protocol provides for financing and pricing of the destruction of HFC-23 on the basis of its actual cost per tonne, which would work out far lower than the market prices of carbon credits. Working out such solutions will be better than blanket bans.</div>               </font>
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EU and carbon trading

The European Commission’s decision to exclude two key ozone-depleting gases from the purview of carbon trading from 2013 would have negative implications for global warming. The two industrial emissions marked for this purpose are Hydrofluorocarbon-23 (HFC-23), essentially trifluoromethane, and nitrous oxide. These are highly potent greenhouse gases (GHGs) that together account for the bulk of the trade under the EU’s emission trading system, which is, by far, the world’s largest certified emission reduction (CER) trading market under clean development mechanism (CDM) of the Kyoto Protocol. It is noteworthy that HFC-23, produced as an unwanted byproduct in making HCFC-22 (essentially chloro-difluoromethane used for refrigeration) is nearly 12,000 times more harmful to the environment than carbon dioxide. In 2009, nearly 60 per cent of the carbon credits traded in the EU are reckoned to have come from the destruction of HFC-23 alone. Nitrous oxide gas, another highly potent GHG responsible for global warming, is produced in hydro-chemical and fertiliser industries during the production of adipic acid, an industrial chemical used in nylon production. The sale of carbon credits earned by offsetting these environment-injurious gases is a significant source of revenue for these industries in China, India and several other developing countries. Though HCFC-22 is also not an absolutely safe refrigerant, developing countries are allowed to produce and use them till 2030 under the Montreal Protocol. Many developed countries have already stopped making HCFC-22, though they are obliged to phase them out only by 2020. That said, the EU has good reasons for barring from carbon trading the offsets from these two GHGs. Installation of HFC-23 destruction facility does not cost much, though the profits it generates are substantial. The returns on investment, therefore, seem disproportionately exorbitant and can, arguably, act as a perverse incentive to continue to produce or even increase the production of these gases. Such arguments tend to justify debarring these gases from being traded in the present carbon market. But, at the same time, the consequences of doing so seem too worrisome to toe this line. There would be no incentive for the chemical industries to trap and destroy these gases to prevent them from entering the atmosphere. Given their woefully high potential to damage the ozone layer, any unchecked release into the atmosphere will undo much of the gain from global efforts to mitigate global warming. The tradable amounts of credits from these gases have been capped at the 2004-05 level. The issue of unduly large returns can also be addressed through a system of differential pricing for various GHGs, linking price cuts or premiums to the investments required in trapping and destroying them. The Montreal protocol provides for financing and pricing of the destruction of HFC-23 on the basis of its actual cost per tonne, which would work out far lower than the market prices of carbon credits. Working out such solutions will be better than blanket bans.