Sustainable Development through Carbon Trading Mechanism in the UAE context

Abstract

Sustainable development is considered as a progressive growth of a nation without disturbing the natural resources and carbon trading is defined as a trading process were two different nations exchange or borrow the carbon emission credit according to their needs. Carbon trading usually happens between the developed and under developing nations where the developed nations buy few carbon emitting credits which were not used by the under developed nations. Therefore, sustainable development and carbon trading are contrast to each other and it will be the opportunity cost for any nation while handling these two, therefore most of the nationprefer towards carbon trading and compromises on sustainability of their nation. Emission of CO2 is considered as the most important factor in carbon trading. There are lots of policies and regulations involved in Carbon trading and the companies of a nation play an important role here. This research deals with Carbon trading process and methods in UAE and the effects of this trading on the society’s sustainable development.