Afforestation and Reforestation Projects
Assigned Amount and Assigned Amount Units.
The Global Warming Solutions Act of 2006 is an environmental law in California. In 2006, the Legislature passed and Governor Schwarzenegger signed AB 32, the Global Warming Solutions Act of 2006, which set the 2020 greenhouse gas emissions reduction goal into law. It directed the California Air Resources Board (ARB or Board) to begin developing discrete early actions to reduce greenhouse gases while also preparing a scoping plan to identify how best to reach the 2020 limit.
The reduction of greenhouse gas emissions and/or the sequestration of greenhouse gases - i.e. the amount by which a project reduces net greenhouse gas emissions. This is also known as the impact of the project or measure.
The CDM Accreditation Panel was established to support the Executive Board in the accreditation of designated operational entities and related functions.
An accredited independent entity conducts the validation of the project design document for a Joint Implementation project. This role is similar to the Designate Operating Entity under the Clean Development Mechanism (CDM).
The Ad Hoc Working Group on Further Commitments for Annex 1 Parties under the Kyoto Protocol to the United Nations Framework Convention on Climate Change, which is most commonly referred to by its acronym AWG-KP, was established to help develop an agreement to follow on from the Kyoto Protocol, which expires in 2012.
The Ad Hoc Working Group on Long-term Cooperative Action (AWG-LCA) is an official body agreed to at the COP13 conference in Bali to facilitate detailed discussions on ways to implement the United Nations Framework Convention on Climate Change beyond the current expiry date of the Kyoto Protocol. AWG-LCA has the task of seeking to resolve as many of the details of a post-2012 climate change agreement in order to enable an agreed outcome to be adopted at the COP15 conference to be held in Copenhagen in late November and early December 2009.
A fund generated by charging an adaptation levy on Certified Emission Reductions generated by Clean Development Mechanism projects. The purpose of the fund is to help particularly vulnerable developing countries meet the costs of adapting to a changing climate.
A levy is applied to all Clean Development Mechanism projects except those in least developed countries (LDCs), to create the Adaptation Fund. It amounts to 2% of the certificates earned by a project activity. The fund will be used to assist LDCs to adapt to climate change.
A vital test of eligibility for projects designed to generate carbon credits under the Kyoto Protocol's CDM and JI mechanisms, as well as other carbon offset schemes. The principle is that a project should only be able to earn credits if the GHG emission reductions produced by the project are additional to what happened in the absence of carbon credit cashflow incentive.
Guidelines developed by the CDM Executive Board to assess additionality based on financial, technological and other barriers. Additionality established using the CDM Additionality Tool is very robust and offers the highest level of assurance.
Direct human-induced conversion of land that has not been forested for a period of at least 50 years to forested land through planting, seeding and/or the human-induced promotion of natural seed sources1.
Term given to the class of projects devoted to the planting of trees on unforested land for carbon emissions reduction and other environmental benefits.
Agriculture, Forestry and Other Land Use
Alliance of Small Island States (AOSIS) is a coalition of Small Island and low-lying coastal countries founded in 1990. The main purpose of the alliance is to consolidate the voices of Small Island developing states to address global climate change. AOSIS has been very active from its inception putting forward the first draft text in the Kyoto Protocol negotiations as early as 1994.
The distribution of allowances to participants in emissions trading scheme or other entities.
An allowed, possibly tradable, right-to-emit in a country that has taken on an emissions cap under the Kyoto Protocol. The units for allowances are tonnes of CO2 equivalent.
The American Carbon Registry provides an electronic registry system for Members to transparently register serialized offsets as well as record the purchase, sale and retirement of project-based offsets, branded as Emission Reduction Tons ("ERTs"). Members can also report their verified corporate GHG inventories ("carbon footprint") on the Registry.
Annex B countries are defined in Annex B of the Kyoto Protocol. These are industrialised countries with greenhouse gas emissions limitations (which may nevertheless be a net increase in emissions) or a reduction commitment. The annex identifies those countries currently making a transition to a market economy. The only difference between the Annex I and Annex B countries, is that Turkey and Belarus are not Annex B countries.
Annex I is an Annex in the United Nations Framework Convention on Climate Change. The Annex I countries are those which committed themselves as a group to reducing their emissions of the six greenhouses gases by at least 5% below 1990 levels over the period between 2008 and 2012. Specific targets vary from country to country.
The subset of Annex I/B countries that have an obligation to provide technology and financial assistance to help developing countries reduce emissions. The Annex II countries are Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, the United Kingdom, and the United States of America.
Annex Z of the Marrakesh Accords (COP7) defines the maximum amount of forest management credits each Annex I country can use to meet its Kyoto commitments.
Large-scale methodology to calculate emission reductions for a project, approved for use by the Executive Board of the CDM. Consolidated from a number of approved methodologies (AMs).
Methodology approved by the CDM Executive Board to calculate emission reductions for a CDM project that is not small-scale and not an A/R project (see below).
The Asia-Pacific climate pact is an international climate change agreement. Its initiators in 2005 were the United States and Australia, the only two industrialised nations not to have ratified the Kyoto treaty at that time (Australia since ratified in 2007). The group also includes China, India, Japan, South Korea and now Canada. APP rejects Kyoto-style emission reduction targets in favour of encouraging business to invest in clean fossil-fuel technology and renewable energy.
The assigned amount is the total volume of greenhouse gases that each Annex B country is allowed to emit during the first commitment period (see explanation below) of the Kyoto Protocol. An Assigned Amount Unit (AAU) is a tradable unit of 1 tonne CO2e.
Common term used for the sale of allowances, as opposed to allocating them for free.
The Bali Action Plan was adopted at a December 2007 conference in Bali, Indonesia by parties to the United Nations Framework Convention on Climate Change and the Kyoto Protocol. The plan "charts the course for a new negotiating process designed to tackle climate change", with the intention this be concluded at the COP15 meeting in Copenhagen.
A maximum limit of 2.5% of a country's assigned amount (target) has been set for banking credits for future use in the next commitment period, for both Emission Reduction Units from Joint Implementation projects and Certified Emission Reductions from Clean Development Mechanism projects. Assigned Amount Units from emissions trading can be carried forward without restriction, whereas Removal Units assigned to removal of CO2 by sinks cannot be banked at all.
The baseline is the emission of greenhouse gases that would occur without the intended project activity or policy intervention. It therefore represents the emissions associated with a business-as-usual scenario. The additional emission reductions that a project contributes can only be determined once the baseline has been assessed. Various approaches can be taken to determine the baseline, but the approach must be justified as part of the project validation process.
An allocation method in which allowances are distributed based on output (e.g. one allowance per MWh generated) or on intensity standards in the industry, based on best-performing companies.
A mechanism under a cap and trade system that allows entities to use allowances designated for a future compliance period to meet current compliance period requirements.
A bubble is said to exist when emissions for different countries are grouped together, and the target applies to the group. E.g. The European Union.
Bundling signifies the bringing together of several CDM project activities, to form a single project to reduce CDM-related transaction costs.
A business as usual scenario is a policy neutral reference case of future emissions, i.e. projections of future emission levels in the absence of changes in current policies, economics and technology.
The California Air Resources Board, also known as (ARB) is the "clean air agency" in the government of California. Established in 1967 in the Mulford-Carrell Act, combining the Bureau of Air Sanitation and the Motor Vehicle Pollution Control Board, the ARB is a department within the cabinet-level California Environmental Protection Agency. The stated goals of ARB include attaining and maintaining healthy air quality; protecting the public from exposure to toxic air contaminants; and providing innovative approaches for complying with air pollution rules and regulations.
A non-profit voluntary registry for greenhouse gas emissions in California and the official registry for AB32. The purpose of the Registry is to help companies and organisations with operations in the state to establish GHG emission baselines against which any future GHG emission reduction requirements may be applied.
The most popular type of emissions trading scheme where emissions are subject to a cap, permits are issued up to that cap, and a market allows those emitting less than their quota of the cap to sell their excess permits to emitters needing to buy extra to meet their quota. See also baseline and credit.
see Corrective Action Request
A two-step measure to prevent carbon dioxide emissions from the burning of fossil fuels entering the atmosphere, particularly from power generation. Instead of CO2 being vented, it is contained and pumped underground under pressure, where it cannot contribute to global warming. This technology is still in its infancy with results largely unproven. Also known as one form of 'carbon sequestration'.
Measurement unit used to indicate the global warming potential (GWP) of greenhouse gases. Carbon dioxide is the reference gas against which other greenhouse gases are measured. See Global Warming Potential for conversion rates.
Amount of CO2 released per unit of energy produced.
Carbon leakage occurs when there is an increase in carbon dioxide emissions in one country as a result of an emissions reduction by a second country with a strict climate policy.
An individual, household or organisation that is responsible for no net emissions of greenhouse gases from all its activities is considered "carbon neutral". Emissions must be cut to a minimum and any necessary emissions then offset by emission reducing activities elsewhere. Buying accredited clean electricity helps cut household or office greenhouse emissions, while investing in sustainable energy projects or afforestation schemes are examples of offsets.
A carbon offset is a financial instrument aimed at a reduction in greenhouse gas emissions. Carbon offsets are measured in metric tons of carbon dioxide-equivalent (CO2e) and may represent six primary categories of greenhouse gases. One carbon offset represents the reduction of one metric ton of carbon dioxide or its equivalent in other greenhouse gases.
The Carbon Pollution Reduction Scheme is a cap-and-trade system of emissions trading for anthropogenic greenhouse gases, due to be introduced in Australia in 2010 by the Rudd government, as part of its climate change policy, marking a change in the Energy policy of Australia.
A carbon sink is a natural or manmade reservoir that accumulates and stores some carbon-containing chemical compound for an indefinite period. The main natural sinks are: Absorption of carbon dioxide by the oceans and Photosynthesis by plants and algae. The main manmade sinks are: Landfills and Carbon capture and storage proposals. The process by which carbon sinks remove carbon dioxide from the atmosphere is known as CO2 sequestration or carbon sequestration.
The process of buying and selling carbon credits. Large companies or organisations are assigned a quota of carbon that they are allowed to emit. If a company's emissions are less than its quota then it can sell credits if emissions are more then it will need to buy carbon credits.
Clean Development Mechanism. A Kyoto Protocol initiative under which projects set up in developing countries to reduce greenhouse gas emissions generate tradable credits called CERs, the first step towards a global carbon market. These credits can be used by industrialised nations to offset carbon emissions at home and meet their Kyoto reduction targets. The projects include renewable energy generation, reforestation and clean fuels switching. See also JI