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1. Marginal Abatement Cost (MAC)

   MAC reflects the cost of one additional unit or ton of pollution that is abated, or not emitted. The MAC of each additional unit is always increasing, with a steep jump as the firm gets closer to the elimination of last remnants of pollution.

2. Market Advisory Committee

   Entity set up by the California Air Resources Board (CARB) to recommend designs for a greenhouse gas cap-and-trade scheme in the state.

3. Marrakesh Accords

   The Marrakech Accords is a set of agreements reached at the Conference of the Parties 7 (COP7) meeting in 2001 on the rules of meeting the targets set out in the Kyoto Protocol.

4. Meeting of Parties (MOP)

   The meeting of the Parties refers to the meeting of the Parties to the Kyoto Protocol. The Conference of the Parties (COP) to the UNFCCC serves as the meeting of the Parties. This structure is intended to reduce costs and streamline management of the UNFCCC/Kyoto Protocol processes.

5. Memorandum of Understanding (MoU)

   A memorandum of understanding (MOU or MoU) is a document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action. It most often is used in cases where parties either do not imply a legal commitment or in situations where the parties cannot create a legally enforceable agreement.

6. Methodologies Panel (Meth Panel)

   The Methodologies Panel (Meth Panel) advises the Executive Board on a range of issues relating to baseline and monitoring methodologies.

7. Midwestern Greenhouse Gas Reduction Accord (MGA)

   The Midwestern Greenhouse Gas Accord is a regional agreement by six governors of states in the US midwest who are members of the Midwestern Governors Association (MGA) and the Premier of one Canadian province to reduce greenhouse gas emissions to combat climate change. Signatories to the Accord are the US states of Minnesota, Wisconsin, Illinois, Iowa, Michigan, Kansas, and the Canadian Province of Manitoba. Observers of the Accord are Indiana, Ohio ,and South Dakota.

8. MIRI Market Initiated Ratings Initiative

   Programme conducted by the CRA of unsolicited ratings, covering a range of projects. Based upon public information, its output is a Diagnostic Report which classifies the projects' risks.

9. Monitoring

   Monitoring refers to the collection and archiving of all relevant data necessary for determining the baseline, measuring anthropogenic emissions by sources of greenhouse gases (GHG) within the project boundary of a project activity and leakage, as applicable.

10. Monitoring Plan

    A monitoring plan provides information on the collection and analysis of all data relevant to the calculation of emission reductions from a project. The full requirements for the monitoring plan are set out in 3/CMP.1, Annex, paragraph 53. The monitoring plan must be included in the Project Design Document (PDD).