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The concept of climate change began to attract attention in the 19th Century but it was not until the 1970s did substantial debate occur. In 1997, the Kyoto Protocol became the first environmentally focused, global, legally binding document. It has set limits on carbon emissions, officially defined the six greenhouse gases (CO2, CH4, N2O, HFC, PFC and SF6) and utilised three mechanisms (Emissions trading, clean development mechanism and joint implementation) to assist the market in financially viable emission reduction schemes. The voluntary carbon market emerged to fulfill the demand from organizations and businesses that wished to reduce their carbon emissions outside and beyond the compliance market.
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