Regarding “carbon credits”, which one of the following statements is not correct ?

A The carbon credits system was ratified in conjunction with the Kyoto Protocol.

B The goal of the carbon credit system is to limit the increase of carbon dioxide emission.

C Carbon credits are traded at a price fixed from time to time by the United Nations Environment Programme.

D Carbon credits are awarded to countries or groups that have reduced greenhouse gases below their emission quota.

Answer & Explanation
Option: [C]

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