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1. Pavley Bill

   Also known as California Law AB 1943, it was the first law in the US to address the greenhouse gases emitted in auto exhaust. The law mandates a 30 percent reduction in motor vehicle emissions by 2016, starting with model year 2009. AB 1943 has been challenged legally by a number of industries, including the Association of Automobile Manufacturers; the issue is still tied up in the courts.

2. Perfluorocarbons or PFCs

   PFCs, compounds containing carbon and fluorine only are included in the fluorine containing gases ("F-Gases") of the Kyoto Protocol basket. PFC compounds are highly volatile, linear, branched chain or cyclic perfluorinated carbons.

3. Pre-Certified Emission Reductions (pre-CERs)

   A unit of GHG emission reductions that has been verified by an independent auditor but has not yet undergone the procedures and may not yet have met the requirements for registration, verification, certification and issuance of CERs or ERUs.

4. Price Cap

   A cap set on the price of traded emissions allowances. Also known as a safety valve.

5. Primary transaction

   A transaction where the seller is the original owner (or issuer) of the carbon asset. A commonly used acronym for primary CER is "pCER."

6. Programmatic CDM (pCDM) or Programme of Activities (PoA)

   Action by a public or private entity which coordinates and implements CPAs, leading to emission reductions via an unlimited number of CPAs.

7. Programme of Activities (PoA)

   A programme of activities (PoA) is a voluntary coordinated action by a private or public entity which coordinates and implements any policy/measure or stated goal (i.e. incentive schemes and voluntary programmes), which leads to anthropogenic GHG emission reductions or net anthropogenic greenhouse gas removals by sinks that are additional to any that would occur in the absence of the PoA, via an unlimited number of CPAs.

8. Project Concept Risk

   Risk Category associated with the design and technology chosen for the project, project's size, and complexity in comparison with other activities in the same region.

9. Project Context Risk

   Risk Category related to site-specific concerns-- including political, economic, financial, regulatory, environmental and market-related issues-- which may affect project performance.

10. Project Design Document (PDD)

    The project design document (PDD) is the key document involved in the validation and registration of a CDM project activity. It is one of the three documents required for a CDM project to be registered, along with the validation report from the designated operational entity (DOE) and the letter of approval from the designated national authority (DNA).

11. Project Idea Note (PIN)

    This is a short form of project description (about 6 pages) that provides such basic information about the project as type, size and location of the project; estimation of the anticipated total amount of Greenhouse Gas (GHG), reduction compared to the "business-as-usual" scenario, etc.

12. Project Implementation Risk

    Risk Category associated with the construction and operation of an emissions reduction project.

13. Project Participants

    All entities involved in the generation of emission reduction arising from a project.

14. Project Participants Risk

    Risk Category that measures how Project Participants may adversely affect the generation of emission reductions.

15. Project Performance

    Ratio between the emission reductions issued from a project and the expected issuance as stated in the project document(s) for the same period.

16. Prompt-start CDM

    The agreement that CDM projects starting 1 Jan 2000 or later can obtain CERs (as opposed to JI projects, whose crediting period could not start until the Kyoto period started 1 Jan 2008).