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Carbon Credit Capital · 561 Broadway, Suite 6A · New York, NY 10012 · tel: +1.212.925.5697
 
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A Climate Change Introduction:
The International Framework and the Carbon Markets
January 2008
This document is a Copyright of Carbon Credit Capital
®
, LLC, 2008, and contains data and opinionscompiled by Carbon Credit Capital. Carbon Credit Capital is not liable for information or data herein thatchanges daily with market trends or the study of climate change.
CONTACTStephen Donofriosdonofrio@carboncreditcapital.com+1.212.925.5697
 
 
Part 1
A climate change science, policy,law and economics background
561 Broadway Suite 6A
.
New York, NY 10012
.
+1.212.925.5697
.
 
 
 
1.1
What is global warming? 
Over the last 10,000 years, Earth’s thermostat has been set to an average surfacetemperature of around 57°F. However, Earth’s average planetary temperature has beenrising; an effect called global warming. This is attributed to the trapping of the sun’s rays insideEarth’s atmosphere due to a build up of “greenhouse gases”. Greenhouse gases such ascarbon dioxide (CO
2
), methane (CH
4
), nitrous oxides (NOx), and sulfuric oxides (SOx) form apervious blanket around the Earth reaching a distance of 100km (60 miles) from its surface.These gases, particularly CO
2
, play a critical role in maintaining the complex and delicatebalance of Earth’s thermostat and in sustaining life throughout our history. They aid the planetin maintaining a homeostatic surface climate by keeping a portion of the sun’s rays close tothe Earth rather than allowing them all to escape. Greenhouse gases are a waste product ofthe fossil fuels that almost every person on the planet uses for heat, transport, and otherenergy requirements. These uses are rapidly increasing the proportion of greenhouse gasesin the atmosphere.
i
As these concentrations increase and exceed Earth’s ability to control itwithin bounds, the amount of solar radiation and warmth kept close to the Earth, and hencetemperature, also increases.
1.2
What are the effects of global warming? 
The subsequent effects of global warming on earth’s climate habitability include atmosphericand ocean temperature rises which hinder migratory patterns of fish and mammals, raise sealevel to affect coastal development, and put pressure on the thermohaline circulation (
Fig. 1
)that carries warm water from equatorial regions to the northern and southern latitudes. Theinfluence of these forces will cause the Earth, in an attempt to stabilize conditions tolerable tolife, to react in drastic shifts that can drive entire habitats from one end of a continent toanother, cause species extinctions and threaten the biodiversity and ecosystem of the planet.
ii
 These shifts have already caused floods and droughts in certain regions, which have leftpeople starving and malnourished. Thus global warming threatens all species connected toand dependent upon the planet. Climate change particularly impacts the lives of the poor asthey lack the resources the industrialized world has to deal with its ramifications.
Figure 1:
Solar Radiation and Generalized Model of Thermohaline Circulation; “Global Conveyor Belt”
iii
 
Scientists predict that global warming will initially expedite glacial melting and induceflooding in India, China and South America, cause spikes and then devastating declines incrop yields especially in Africa and deplete ocean and other ecosystems of homeostatic livingconditions. As global warming continues and even magnifies into a global temperature rise of3-5°C, these effects will strengthen and could include other threats such as complete flooding
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