Give credit for carbon

I have been intrigued reading this phrase 'carbon credits' quite often in business dailies and magazines of late.But then one can only know so much and what one does not understand, easiest way out is to skip that article; or better still skip that page!Carbon credit was one such.
Not for long. Had a young college girl from the US calling on us some months back and dont remember how this subject came up during our dinner at Manasthali restaurant. Kumar explained the concept to this girl in simple language.It clarified my unasked question too in the bargain!
So it was that during the long weekend , i was reading up all i could on this subject as business today was stuffed with profiles of companies who have made it big in the carbon credit 'space' as it were.(to put it in simple terms, carbon credit is what some companies buy when are too busy running their business and in the process polluting the environment.Some companies do have excess of credit points in their 'environment' balance sheet and are willing to sell to the deficit companies.It is no empty book entry but is traded in hard cash running in crores of rupees.)
SRF and Reliance were mentioned as some of the leading companies who have made a pile on carbon credits.
But today morning business line in their front page tells me that european union companies have quickly changed tracks and are becoming environment friendly and that such a move of their part will adversely affect the future earnings potential projections of prominent Indian companies.Definitely it has affected my view of world economy!Things change by the day, radically as if by a magic wand!
And my weekend learning is turned upside down!