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Displaying 51 - 100 of 207 Terms

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1. CDM EB

   Clean Development Mechanism Executive Board (CDM EB). The body that oversees operation of the CDM. The CDM EB registers CDM projects, issues CERs, and manages the various working groups that rule on project methodologies and other issues.

2. CDM Programme Activities (CPAs)

   Project activity under a programme of activities. A CPA is a single, or a set of interrelated measure(s), to reduce GHG emissions, applied within a designated area defined in the baseline methodology1.

3. CDM Registry

   System of accounts into which the CDM EB issues CERs from registered CDM project activities

4. CERs

   Certified Emission Reductions.

5. Certification

   A process by which a GHG reduction project is audited by a government agency or independent authority to determine that it meets established criteria. For instance, the act of approving emission reductions from a carbon project and issue emission reduction credits to the entity that owns the rights to the project credits.

6. Certified Emission Reductions (CER)

   This is the basic unit of the Clean Development Mechanism. One CER represents the successful emissions reduction equivalent to one tonne of carbon dioxide equivalent (tCO2e).

7. Chicago Climate Exchange (CCX)

   CCX is North America's only voluntary, legally binding greenhouse gas (GHG) reduction and trading system for emission sources and offset projects in North America and Brazil.

8. CITL

   see Community Independent Transaction Log

9. Clean Air Act (CAA)

   The 1990 Clean Air Act is a piece of United States environmental policy relating to the reduction of smog and air pollution.

10. Clean Development Mechanism (CDM)

    see CDM

11. Clean Development Mechanism Executive Board (CDM EB)

    see CDM EB

12. Clear Skies Act (Clear Skies Initiative)

    The Clear Skies Act of 2003 is a proposed federal law of the United States. The official title as introduced is "a bill to amend the Clean Air Act to reduce air pollution through expansion of cap-and-trade programs, to provide an alternative regulatory classification for units subject to the cap and trade program, and for other purposes."

13. Climate Community and Biodiversity Standard (CCB Standard)

    The CCB Standard is a project design standard and offers rules and guidance for project design and development. It is intended to be applied early on during a project's design phase to ensure robust project design and local community and biodiversity benefits. It does not verify quantified carbon offsets nor does it provide a registry. The CCBS focus exclusively on land-based biosequestration and mitigation projects and require social and environmental benefits from such projects.

14. Climate Security Act (CSA)

    The America's Climate Security Act of 2007 was a global warming bill that was considered by the United States Senate to reduce the amount of greenhouse gases emitted in the United States.

15. Commitment Period Reserve

    In order to address the concern that Parties could "oversell" units, and subsequently be unable to meet their own emissions targets, each Party is required to maintain a reserve of ERUs, CERs, AAUs and/or RMUs in its national registry. This reserve, known as the "commitment period reserve", should not drop below 90 per cent of the Party's assigned amount or 100 per cent of five times its most recently reviewed inventory, whichever is lowest.

16. Compliance Committee

    The Compliance Committee is the body charged with ensuring compliance with the provisions of the Kyoto Protocol.

17. Conference of the Parties (COP)

    The Conference of the Parties (COP) is the supreme body of the United Nations Framework Convention on Climate Change (UNFCCC). Its role is to oversee and review the implementation of the Convention at annual meetings and to negotiate new commitments.

18. Corrective Action Request (CAR)

    A Corrective Action Request (CAR) is a request raised by the DOE during validation when there has been a mistake, the CDM requirements have not been met or there is a risk the emissions cannot be monitored or calculated.

19. Countries with economies in transition (EIT)

    Those Central and East European countries and former republics of Soviet Union that are in transition to a market economy

20. CPRS

    see Carbon Pollution Reduction Scheme

21. CRA Rating

    In-depth analysis of the likely delivery performance of an emission reduction project based on the information provided to CRA. The risk is summarised by a Rating Score and the Risk Web.

22. Credit Limit

    Limit on the use of CERs/ERUs for compliance by the companies under the EU ETS or other cap-and-trade systems. In the EU ETS, it is expressed as a maximum share of the total allocation.

23. Designated National Authority (DNA)

    The designated national authority (DNA) is the body granted responsibility by a Party to authorise and approve participation in CDM projects. The CDM rules provide only limited guidance on the role of the DNA or the requirements for establishing a DNA. These issues are instead left to the Party to determine.

24. Designated Operational Entity (DOE)

    Designated operational entities (DOEs) are independent auditors that assess whether a potential project meets all the eligibility requirements of the CDM (validation) and whether the project has achieved greenhouse gas emission reductions (verification and certification). They are accredited by the CDM Executive Board and designated by the COP/MOP to perform these functions, according to their expertise. Usually, a DOE performs either validation or verification and certification, but the CDM Executive Board can give permission for the same DOE to perform all three tasks for the same project:

25. Determination

    The process of independent evaluation of a JI project by an Accredited Independent Entity whether the Project Design Document (PDD) fulfil all requirements to JI projects under Article 6 of the Kyoto Protocol and the JI guidelines. Determinations of reductions in anthropogenic emissions by sources or enhancements of anthropogenic removals by sinks pursuant to paragraph 37 of the JI guidelines are also referred to as verifications as for JI projects.

26. Determination and Verification Manual (DVM)

    Document being considered by the JISC (Joint Implementation Supervisory Committee), which would serve as a practical reference for independent entities operating under the JI mechanism.

27. Diagnostic Report

    Description and risk analysis of the project, accompanied by a one page Rationale summarising the overall findings of the analysis and the key risks.

28. Domestic Project

    In the JI context, project developed in the absence of another Annex 1 Party participant.

29. Double Counting

    Potential problem with JI projects in sectors covered by the EU ETS. See also JI reserve.

30. Downstream Cap

    A "downstream" cap and trade system is one in which where the entities emitting carbon dioxide are required to surrender allowances

31. Early Crediting

    Early credits have been given to CDM projects whose start date was between 1 Jan 2000 (the starting point for CDM) and 18 November 2004 (when the first project was registered), as long as they submitted their project documentation within end March 2007. The reason for this was the wish to give projects in developing countries a kickstart (see Prompt-start CDM). A CDM project activity that has already started can still be registered if it can prove it took CDM into account when starting, but it will only receive CERs from the date it is registered.

32. EIT

    Countries with Economies In Transition

33. Eligibility Requirements

    Conditions for being able to trade AAUs and ERUs under Article 17 of the Kyoto Protocol. There are six eligibility requirements for participating in emissions trading for Annex I Parties.

34. Emission Reduction Purchase Agreement (ERPA)

    This agreement usually involves two countries; however, it may occur between a country and a large corporation. Buyers expect their carbon emissions to be above the level allocated to them by the Kyoto Protocol, while the seller expects to produce less. Often, the seller has implemented new technology or is developing a new project that is expected to lower its greenhouse gas emissions.

35. Emission Reduction Unit (ERU)

    ERU refers to the reduction of greenhouse gases, particularly under Joint Implementation, where it represents one tonne of CO2 equivalent reduced.

36. Emissions Reductions (ERs)

    Emissions reductions generated by a project that have not undergone a validation/verification process, but are contracted for purchase.

37. Emissions to Cap (E-t-C)

    E-t-C, also called Gap-to-cap, is calculated by subtracting the seasonally adjusted cap from emissions (actual or forecasted). This metric gives an indication of whether the market (for a specific period) is producing more or less than the seasonally adjusted cap for that same period. More specifically, if not taking CERs into account, a positive (negative) E-t-C means that the market is fundamentally short (long), suggesting a buy (sell) signal.

38. Environmental Impact Assessment (EIA)

    The EIA is an assessment of the possible impact - positive or negative - that a proposed project may have on the environment; considering natural, social and economic aspects. The purpose of the assessment is to ensure that decision makers consider the ensuing environmental impacts to decide whether to proceed with the project.

39. European Union Allowances (EUA)

    The tradable unit under the EU ETS. Each allowance equals 1 tonne of CO2. EUAs are bankable from Phase 2 to Phase 3 of the EU ETS.

40. European Union Emissions Trading Scheme (EU ETS)

    The EU ETS is the largest multi-national, emissions trading scheme in the world, and is a major pillar of EU climate policy. The ETS currently covers more than 10,000 installations in the energy and industrial sectors which are collectively responsible for close to half of the EU's emissions of CO2 and 40% of its total greenhouse gas emissions.

41. Flexible mechanisms

    A key feature of the Kyoto Protocol is the creation of the flexible mechanisms, namely the Clean Development Mechanism (CDM), Joint implementation (JI), and International Emissions Trading (IET). Parties from Annex 1 countries which have ratified the Kyoto Protocol, regardless of emissions reductions commitments, are permitted to utilise one or more of these mechanisms.

42. Forward Action Request (FAR)

    The FAR is a request made by the DOE during validation. It is used to highlight issues related to project implementation that require review during the first verification of the project activity. FARs must be reported on in the validation report.

43. Framework Risk

    Risk Category associated with completion of the applicable regulatory cycle, including final emission reductions issuance.

44. Fuel Switching

    The process of moving from a higher carbon content fuel, such as coal, to a lower carbon content fuel, such as natural gas, in power generation and industrial process for purposes of reducing carbon emissions.

45. G77

    The Group of 77 is the largest intergovernmental organization of developing states in the United Nations, which provides the means for the countries of the South to articulate and promote their collective economic interests and enhance their joint negotiating capacity on all major international economic issues within the United Nations system, and promote South-South cooperation for development.

46. Global Environment Facility (GEF)

    The GEF is a global partnership among 178 countries, international institutions, non-governmental organizations (NGOs), and the private sector to address global environmental issues while supporting national sustainable development initiatives. It provides grants for projects related to six focal areas: biodiversity, climate change, international waters, land degradation, the ozone layer, and persistent organic pollutants.

47. Global Warming Potential (GWP)

    GWP is a measure of how much a given mass of greenhouse gas is estimated to contribute to global warming. It is a relative scale which compares the gas in question to that of the same mass of carbon dioxide.

48. Global Warming Solutions Act of 2006

    The Global Warming Solutions Act of 2006 is an environmental law in California, signed into law by Governor of California on September 27, 2006. The bill establishes a timetable to bring California into near compliance with the provisions of the Kyoto Protocol.

49. Gold Standard

    Gold Standard credits (GS-CER and GS-VER) are offered for sale in compliance offset markets established by the Kyoto Protocol and in non-Kyoto voluntary offset markets. The Foundation has trademarked the Gold Standard label, which is today internationally-recognised as the leading indicator of quality in carbon markets.

50. Grandfathering

    Method for allocation of emissions credits/allowances to companies or other legal entities, usually free of charge, on the basis of their historic emissions. Grandfathering has been the main allocation method in Phase I1 and I2I of EU ETS.

Displaying 51 - 100 of 207 Terms

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