Glossary of terms
Early credits have been given to CDM projects starting from 1 Jan 2000 as long as they submitted their project documentation by 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. Afforestation/reforestation projects starting 2000 onwards can accrue tCERs/lCERs from the project start date as long as their start date is identical with the crediting period start date. Source: Point Carbon
Economies in Transition (EIT)
Those Central and East European countries and former republics of the Soviet Union in transition from state-controlled to market economies. Source: UNFCCC
Ecological goods and services (functions and processes) that provide benefits and critical, life-sustaining support to natural and social systems. They are typically difficult to measure and quantify, and therefore are undervalued or not valued (monetarily) in traditional economic systems. Examples include watershed, biodiversity and soil conservation benefits. Source: US Forest Service
Specific conditions for participation in a scheme or mechanism. For example, conditions to be fulfilled for conducting a CDM or voluntary standard project or for participating in an emissions trading scheme.
Emission Reduction Purchase Agreement (ERPA)
Binding agreement between buyers and sellers of carbon credits.
Emission Reduction Units (ERUs)
A tradable unit equivalent to one metric ton of CO2 emissions generated by Joint Implementation projects under the Kyoto Protocol.
Emission Reductions (ERs)
The measurable reduction of release of greenhouse gases into the atmosphere from a specified activity or over a specified area, during a specified period of time. Source: CORE
The release of greenhouse gases and/or their precursors into the atmosphere over a specified area and period of time. Source: UNFCCC
Transfer or acquisition of carbon credits in compliance or voluntary carbon markets to enable more cost-effective reductions.
Entry into force
The point at which an intergovernmental agreement becomes legally binding -- occurring at a pre-stated interval after a pre-stated and required number of ratifications by countries has been achieved. The Climate Change Convention required 50 ratifications to enter into force. It now enters into force for each new Party 90 days after that Party ratifies the Convention. Source: UNFCCC
Private or public/private institutions that provide sustainable financing for biodiversity conservation, sourcing and managing funding from international donors, national governments and the private sector. Environmental funds provide funding, typically through grants, to nongovernmental organizations (NGOs), community based-organizations and governmental departments or local government offices. In the case of REDD+ these funds may be adapted to provide loan or investment finance in addition to grant based funding. Source: Conservation Finance Alliance and PricewaterHouseCoopers. 2010
Environmental Impact Assessment (EIA)
A procedure to identify and consider the possible environmental consequences of proposed projects prior to giving them authorisation. The rules for an Environmental Impact Assessment vary from country to country.
A term used to express the fact that offsets need to be real, additional and not double counted in order to deliver the desired GHG benefits. Source: CORE
Environmental Integrity Group
A coalition or negotiating alliance consisting of Mexico, the Republic of Korea and Switzerland. Source: UNFCCC
Economic and Social Commission for Asia and the Pacific
Environmental and Social Impact Assessment
European Union (EU)
A European regional economic integration organization. The EU is a Party to both the Convention and the Kyoto Protocol, but it does not have a separate vote from its member states. Source: UNFCCC
European Union Allowances (EUA)
Tradable emission credits equals 1 tonne of CO2 issued under the European Union Emissions Trading Scheme.
European Union Emissions Trading Scheme (EU ETS)
The EU ETS is a greenhouse gas emissions trading scheme which aims to limit emissions by imposing progressively lower limits on power plants and other sources of greenhouse gases. The scheme consists of two phases: Phase I (2005-07) and Phase II (2008-12). Source: CORE
Estimating emission reductions before they have occurred and possibly receiving advance payment for the same. Particularly useful for forestry credits which take a long time to develop and need initial capital support to get off the ground. Related terms: forward sales, forward crediting, ex ante crediting, ex ante purchases, future value accounting.
Emissions reductions that have already occurred and can be measured and verified. Related term: ex post crediting
Executive Board of the Clean Development Mechanism
A 10-member panel elected at COP-7 which supervises the Clean Development Mechanism. Source: UNFCCC
Expert review teams
Groups of experts, nominated by Parties, who review national reports submitted by Annex I Parties to the UNFCCC and the Kyoto Protocol. Source: UNFCCC