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Sticking points in carbon market rules × A key contentious issue for countries like India is the fate of several unsold tradeable carbon credits Centuries of uncontrolled industrialisation has led to an increase in atmospheric carbon dioxide levels from pre-industrial era of 172 ppm to 417 ppm, leading to climate change and increased frequency and intensity of extreme events. Since the 1990s, there has been increasing scientific evidence and global concern on the impact of climate change. Based on scientific inputs complied through the reports of the Intergovernmental Panel on Climate Change (IPCC), effective and binding legal instruments like the United Nations Framework Convention on Climate Change (UNFCCC) have been instituted.

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