WebConnect

Glossary

• A
• B
• C
• D
• E
• F
• G
• H
• I
• J
• K
• L
• M
• N
• O
• P
• Q
• R
• S
• T
• U
• V
• W
• X
• Y
• Z
• Show all

1. 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.

2. EIT

   Countries with Economies In Transition

3. 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.

4. 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.

5. 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.

6. Emissions Reductions (ERs)

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

7. 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.

8. 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.

9. 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.

10. 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.