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Correct Answer: Option (B) — Kyoto Protocol
Concept & Option Breakdown
Standard Reference VerifiedThe concept of carbon credits and market-based emission reduction mechanisms was formalized under the Kyoto Protocol (1997). It introduced mechanisms like International Emissions Trading (IET), Clean Development Mechanism (CDM), and Joint Implementation (JI) to allow countries to trade emissions allowances.
Binding carbon reduction targets and emissions trading credits are core defining mechanisms of the Kyoto Protocol (1997).
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