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Displaying 151 - 200 of 207 Terms

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1. 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.

2. Price Cap

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

3. 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."

4. 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.

5. 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.

6. 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.

7. 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.

8. 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).

9. 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.

10. Project Implementation Risk

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

11. Project Participants

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

12. Project Participants Risk

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

13. 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.

14. 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).

15. Rating Committee

    Body of CRA which reviews, discusses, and assigns ratings on the likelihood of a project delivering on emission reductions.

16. Rating Scale

    Range of Rating Score from AAA to D, which reflects a project's likelihood of delivering emission reductions relative to project documents.

17. Rating Score

    Representation of the overall risk of a project, expressed in terms used in other financial markets (AAA through D), assigned by CRA.

18. Ratings Scan

    Initial CRA opinion on a project based on readily available documents, assessment of the potential to attain registration and to generate emission reductions.

19. Rationale

    One-page summary of the Diagnostic Report, including the Rating Score assigned by CRA.

20. REDD (Reduced Emissions from Deforestation and Degradation)

    Project activities that aim to reduce emissions by avoiding deforestation and/or forest degradation.

21. Reduced emissions from deforestation and degradation (REDD)

    Reducing emissions from deforestation and [land] degradation. Mitigation action that seeks to preserve existing carbon stocks in forests (typically tropical rainforests), peat lands etc. The approach would be additional to project-based efforts such as the CDM. Issues to be solved are permanence, leakage, monitoring and baselines.

22. Reforestation

    Direct human-induced conversion of non-forested land to forested land through planting, seeding and /or the human-induced promotion of natural seed sources, on land that was forested but that has been converted to non-forested land. For the first commitment period, reforestation activities will be limited to reforestation occurring on those lands that did not contain forest on 31 December 1989.

23. Regional Greenhouse Allowance (RGA)

    Tradable unit under the Regional Greenhouse Gas Initiative, corresponds to 1 short ton (0.907 metric tonne).

24. Regional Greenhouse Gas Initiative (RGGI)

    The Regional Greenhouse Gas Initiative (RGGI) is the first mandatory, market-based effort in the United States to reduce greenhouse gas emissions. Ten Northeastern and Mid-Atlantic states will cap and then reduce CO2 emissions from the power sector 10% by 2018.

25. Removal Units (RMUs)

    RMUs are issued by Parties to the Kyoto Protocol in respect of net removals by sinks from activities covered by Article 3(3) and Article 3(4) of the Kyoto Protocol (in the land use, land use change and forestry sector). 

26. Retroactive Issuance

    Term used when emission reductions are issued for a certain period before project registration.

27. Risk Categories

    Classification of the five main risk sources: framework, concept, implementation, context, and participants.

28. Risk web

    Graphical representation of relative level of risk in each Risk Category.

29. Secondary Market

    The secondary market signifies the second transaction or trading of Certified Emissions Reductions (CERs) related to CDM projects or Emission Reduction Units (ERUs) from JI projects.

30. Secondary Transaction

    A transaction where the seller is not the original owner (or issuer) of the carbon asset. A commonly used acronym for secondary CERs is "sCER."

31. Sectoral approaches

    Umbrella term that describes policies that aim to achieve emissions reductions from a sector of the economy, either through crediting mechanisms or some form of target. Such scaled-up policies or mechanisms are under discussion in international negotiations for use in a post-2012 global climate agreement.

32. Sinks

    The removal of greenhouse gases (GHGs) from the atmosphere through land management and forestry activities that may be subtracted from a country's allowable level of emissions.

33. Small scale CDM projects

    There is a simplified process for small scale CDM projects that will generate less emissions reductions. They are defined as: renewable energy projects under 15 MW, energy efficiency projects that reduce energy consumption by up to 60 GWh per year; or project activities which emit less than 60 kilotonnes CO2 equivalent per year.

34. Subsidiary Body for Implementation (SBI)

    The SBI meets at least twice a year to assess and review the implementation of the United Nations Framework Convention on Climate Change (UNFCCC), by providing advice to the Conference of the Parties (COP) on national communications submitted by Parties, as well as financial and administrative matters.

35. Subsidiary Body for Scientific and Technological Advice (SBSTA)

    The SBSTA meets at least twice a year to provide advice to the Conference of the Parties (COP) on matters of science, technology and methodology, including guidelines for improving standards of national communications and emission inventories.

36. Sulfur Hexafloride or SF6

    One of six GHGs curbed under the Kyoto Protocol. It is mostly used in the heavy industry to insulate high-voltage equipment and assist in the manufacturing of cable-cooling systems.

37. Supplementarity

    The supplementarity principle is one of the main principles of the Kyoto Protocol. The concept is that internal abatement of emissions should take precedent before external participation in flexible mechanisms. These mechanisms include emissions trading, Clean Development Mechanism (CDM), and Joint Implementation (JI).

38. Temporary Certified Emission Reductions (tCERs)

    Temporary CER" or "tCER" is a CER issued to project participants in an afforestation or reforestation project activity under the CDM which, subject to the provisions of section K below, expires at the end of the commitment period following the one in which they are issued.

39. Terrestrial Sequestration

    Terrestrial carbon sequestration is defined as either the net removal of CO2 from the atmosphere or the prevention of CO2 net emissions from the terrestrial ecosystems into the atmosphere.

40. The Climate Registry (TCR)

    The Climate Registry is a nonprofit collaboration between North American states, provinces, territories, and Native Soverign Nations to record and track the greenhouse gas emissions of businesses, municipalities and other organisations.

41. Track 1 and Track 2 JI Projects

    To host Track 1 (fast-track) JI projects, a country has to meet the following criteria: a) be a Party to the Kyoto Protocol; b) calculated assigned amount; c) establish national registry; d) submit the annually required inventory; e) establish system for the estimation of emissions and sinks; and f) submit additional information on the assigned amount. If host country meets all criteria, it is free to implement JI projects under Track 1: apply its own criteria and approve the project and emission reductions according to its own rules. In case a host country meets only a)-c) criteria mentioned above, it is eligible for Track 2 JI projects. Second track JI more closely resembles the CDM. Projects must be examined and the emissions reduced or sequestered verified by an independent entity before any transfer of ERUs can occur.

42. UK Emissions Trading Scheme

    Voluntary domestic emissions trading scheme running from March 2002 to the end of 2007.

43. Umbrella group

    An informal group of industrialised countries that do not belong to the EU but occasionally acts as an negotiating bloc on specific issues. The group was formed after the adoption of the Kyoto Protocol, and consists of Japan, USA, Canada, Australia, Norway, New Zealand, Iceland, the Russian Federation and Ukraine.

44. Unilateral CDM project

    CDM project that does not include an Annex 1 project participant.

45. United Nations Framework Convention on Climate Change (UNFCCC)

    The UNFCCC is an international environmental treaty produced at the United Nations Conference on Environment and Development (UNCED), in Rio de Janeiro in 1992. The treaty is aimed at stabilizing greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system.

46. Upstream Cap

    An "upstream" cap and trade system is one in which the entities supplying or importing carbon-rich fuels into the market would be required to surrender allowances (see also: downstream Cap). The proposed Australian Carbon Pollution Reduction Scheme uses an upstream approach for transportation and some other emission categories.

47. Validation

    The process of independent evaluation of a CDM project by an designated operational entity according to requirements to CDM projects.

48. Validation and Verification Manual

    The Validation and Verification Manual is a standard designed to assist DOEs with their validation and verification work. It was adopted by Executive Board at its 44th meeting and outlines requirements for validation and verification reports. The aim of the Manual is to promote quality and consistency in DOE reports and ensure each project activity meets all applicable CDM requirements.

49. Verification

    Verification is the periodic independent review and ex post determination by the designated operational entity of the monitored reductions in anthropogenic emissions by sources of greenhouse gases that have occurred as a result of a registered CDM project activity during the verification period.

50. Verified Emission Reductions (VERs)

    VERs are generated by carbon reduction projects that are assessed and verified by third party organisations rather than through the UNFCCC. Most commonly VERs are associated with voluntary emissions reduction projects.

Displaying 151 - 200 of 207 Terms

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