Carbon Investments including Certified Emission Reductions (CERs) and other Carbon Emission Credits

Afforestation and reforestation. Term given to the class of projects devoted to the planting of trees on unforested land for carbon emissions reduction and other environmental benefits. A/R is eligible under the Clean Development Mechanism (CDM) to generate Certified Emission Reductions (CERs), attracting carbon investments for carbon emission credits.

See Afforestation and Reforestation (A/R) Projects.

See Assigned Amount Unit

The Australian Bureau of Agricultural and Resource Economics, is a government economic research agency which provides independent research and forecasting on numerous specialised areas, including the quality of the Australian environment.

Refers to reducing the degree or intensity of greenhouse-gas emissions.

All processes, which include melting, evaporation (sublimation), wind erosion, and calving (breaking off of ice masses), that remove snow or ice from a glacier or snowfield. The term also refers to the amount of snow or ice removed by these processes.

Shedding by a plant of its parts, such as leaves, flowers, fruits, or seeds. The process is regulated by the plant hormone abscisic acid.

A measure of the amount of radiant energy, incident normal to a planar surface, that is absorbed per unit distance or unit mass of a substance.

Australian Competition and Consumer Commission. An independent Commonwealth statutory authority formed in 1995 to administer the Trade Practices Act 1974 and other acts. The ACCC promotes competition and fair trade in the market place to benefit consumers, business and the community. Its primary responsibility is to ensure that individuals and businesses comply with the Commonwealth competition, fair trading and consumer protection laws.

An act whereby a State becomes a Party to a treaty already negotiated and signed by other States; has the same legal effect as ratification.

Change that occurs in an organism to allow it to tolerate a new environment.

An entity accredited by the JISC, which is responsible for the determination of whether a carbon reduction project and the ensuing reductions of anthropogenic emissions by sources or enhancements of anthropogenic removals by sinks meet the relevant requirements of Article 6 of the Kyoto Protocol and the JI guidelines and can generate carbon emission credits.

All processes, which include snowfall, condensation, avalanching, snow transport by wind, and freezing of liquid water, that add snow or ice to a glacier, floating ice, or snow cover. The term also includes the amount of snow or other solid precipitation added to a glacier or snowfield by these processes.

Activities carried out under the Convention to mitigate climate change through partnerships between a carbon investor from a developed country and a counterpart in a host country under a pilot phase that ended in the year 2000. The purpose was to involve private-sector money in the transfer of technology and know-how. See also Joint Implementation

A subsidiary body (committee) created by COP-1 to explore how to help governments overcome difficulties experienced in meeting their commitments under the Climate Change Convention (1995-1998).

Adjustment in natural or human systems in response to actual or expected climatic stimuli or their effects, which moderates harm or exploits beneficial opportunities.

The Adaptation Fund was established to finance concrete adaptation projects and programmes in developing countries that are Parties to the Kyoto Protocol.  The Fund is to be financed with a share of proceeds from Clean Development Mechanism (CDM) project activities and receive funds from other sources. 

Levy aims to assist "Least Developed Countries" (LDCs) through Adaptation Fund to adapt to climate change. Levy (2% of the certificates from project) is imposed to all CDM projects except those implemented in LDCs.

A key eligibility test for carbon projects designed to generate carbon emission credits under the Kyoto Protocol's CDM and JI programmes, as well as other carbon emission reduction schemes. This test dictates that projects are only eligible for carbon investment if the resulting emission reductions weren't going to happen anyway, ie. they are additional to what would have occurred without the carbon credit incentive.

As required under Article 3.9 of the Kyoto Protocol, the COP11/MOP1 initiated a process of Ad-Hoc Working Group establishment to develope further commitments for Annex I countries for the period after the first round of Kyoto emission targets expire (2012).

Industrial production of adipic acid causes emissions of nitrous oxide (greenhouse gas) as a byproduct. Adipic acid is used primarily for production of nylon fibers and plastics, plasticizer for polyvinyl chloride, etc.

The predominately horizontal large-scale movement of air that causes changes in temperature or other physical properties. In oceanography, advection is the horizontal or vertical flow of sea water as a current.

Particulate material, other than water or ice, in the atmosphere ranging in size from approximately 10x-3 to larger than 10x-2 m in radius. Aerosols are important in the atmosphere as nuclei for the condensation of water droplets and ice crystals, as participants in various chemical cycles, and as absorbers and scatterers of solar radiation, thereby influencing the radiation budget of the earth-atmosphere system, which in turn influences the climate on the surface of the Earth.

The 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. Eligible under the Kyoto Protocol for Carbon Emissions Credits.

Afforestation and reforestation (A/R) projects imply establishment of forest on land that has not been forested for a period of at least 50 years (afforestation) or on non-forested land (reforestation) through planting, seeding and/or the promotion of natural seed sources. Emissions reductions are made through sequestration of emissions.

The Australian Greenhouse Office has been incorporated into the Department of Climate Change.

An Australian guide to emission factors from a range of sectors that is used by companies to calculate greenhouse gases. It has now been updated and replaced by the National Greenhouse Accounts Factors prepared by the Department of Climate Change.

Australian Greenhouse Office Greenhouse Friendly' Abatement Program was launched in 2001 and now forms part of the Australian Government's Greenhouse Challenge Plus programme. It provides businesses and consumers with the opportunity to sell and purchase greenhouse neutral products and services and broaden the basis for investment in additional greenhouse gas abatement.

The portion of CO2 released from all energy consumption and land use activities that remains in the atmosphere as opposed to the amounts absorbed by plants and oceans. How the world's total carbon is partitioned among the oceanic, terrestrial, and atmospheric pools is determined by complex biogeochemical and climatological interactions.

Total suspended matter found in the atmosphere as solid pieces or liquid droplets. Airborne particulates include windblown dust, emissions from industrial processes, smoke from the burning of wood and coal, and the exhaust of motor vehicles.

A widespread body of in the atmosphere that gains certain meteorological or polluted characteristics while set in one location. The characteristics can change as it moves away.

The fraction of the total solar radiation incident on a body that is reflected by it.

Simple rootless plants that grow in sunlit waters in relative proportion to the amounts of nutrients available. They are food for fish and small aquatic animals.

Sudden spurts of algal growth that can indicate potentially hazardous changes in local water chemistry.

Coalition of some 43 low-lying and small island countries that are particularly vulnerable to sea-level rise. AOSIS countries were the first to propose a draft text during the Kyoto Protocol negotiations calling for cuts in carbon dioxide emissions of 20% from 1990 levels by 2005.

Allocation of emissions permits or allowances among greenhouse gas emitters to establish an emission trading market. The division of permits/allowances can be done through grandfathering method and permit auctioning.

National plan of an European Union Memberstate establishing the rules to issue of allowances for the installations under the EU-Emissions Trading Scheme (EU ETS).

A period of high temperature, particularly the one from 8000 to 4000 B.P. (before the present era), which was apparently warmer in summers, as compared with the present, and with the precipitation zones shifted poleward. Also called the hypsithermal period.

A large-scale weather pattern of the past that is similar to a current situation in its essential characteristics.

The 39 emissions-capped industrialized countries and economies in transition listed in Annex B of the Kyoto Protocol. Legally-binding emission reduction obligations for Annex B countries range from an 8% decrease to a 10% increase (Iceland) on 1990 levels by the first commitment period of the Protocol, 2008 - 2012.

The industrialized countries listed in this annex to the Convention which were committed return their greenhouse-gas emissions to 1990 levels by the year 2000 as per Article 4.2 (a) and (b). They have also accepted emissions targets for the period 2008-12 as per Article 3 and Annex B of the Kyoto Protocol. They include the 24 original OECD members, the European Union, and 14 countries with economies in transition. (Croatia, Liechtenstein, Monaco, and Slovenia joined Annex 1 at COP-3, and the Czech Republic and Slovakia replaced Czechoslovakia.)

The countries listed in Annex II to the Convention which have a special obligation to provide financial resources and facilitate technology transfer to developing countries. Annex II Parties include the 24 original OECD members plus the European Union.

Annex Z of Marrakesh Accords (COP7) consists of the maximum amount of forest management credits for each Annex I country.

Man made. Usually used in the context of emissions that are produced as the result of human activities.

Greenhouse-gas emissions resulting from human activities.

Asia-Pacific Partnership on Clean Development and Climate sets up a non-binding partnership between the governments of Australia, People's Republic of China, India, Japan, South Korea, Canada and the United States. The partnership sets out a voluntary framework for action, which encourages cooperation between member parties and the private sector to develop and implement clean energy technologies.

A persistent winter diffuse layer in the Arctic atmosphere whose origin may be related to long-range transport of midlatitude continental man-made pollutants.

A committee providing international oversight of “track-two” joint implementation projects. Joint implementation projects are carried out by sponsoring and recipient developed countries under Article 6 of the Kyoto Protocol -with the recipient likely to be a country with an "economy in transition". Track-two is used if one or both of the countries does not meet requirements for the standard (“track one”) joint implementation programme.  See track two.

International non-treaty agreement among Australia, India, Japan, the People's Republic of China, South Korea, and the United States was announced July 28, 2005 at an Association of South East Asian Nations (ASEAN) Regional Forum meeting. The Partnership will focus on investment and trade in cleaner energy technologies, goods and services in key market sectors.

A Kyoto Protocol unit equal to 1 metric tonne of CO2 equivalent.  Each Annex I Party issues AAUs up to the level of its assigned amount, established pursuant to Article 3, paragraphs 7 and 8, of the Kyoto Protocol. Assigned amount units may be exchanged through emissions trading.

A standard unit of pressure representing the pressure exerted by a 29.92-in. column of mercury at sea level at 45 degrees latitude and equal to 1000 g/cm2.

The envelope of air surrounding the Earth and bound to it by the Earth's gravitational attraction. Studies of the chemical properties, dynamic motions, and physical processes of this system constitute the field of meteorology.

Auctioning means allocation of carbon emission credits among emitters within domestic emissions trading scheme concerned with willingness to pay for permits.

This standard provides a common approach to determining how much carbon a given area of forest can be expected to remove from the atmosphere, taking account of the species of tree, how densely the trees are planted and a number of other factors.

The ability under an emissions trading scheme to save carbon emissions credits issued in one for use in later years (banking), or bring forward some of a future year's permit allocation for use in the current year (borrowing).

The movement or speed of movement of a glacier on its bed.

The baseline represents forecasted carbon emissions under a business-as-usual (BAU) scenario, often referred to as the 'baseline scenario' , i.e. expected emissions if the emission reduction activities were not implemented.

A type of emissions trading scheme where firms are encouraged to reduce their greenhouse gas emissions below a projected “business as usual” path of increasing emissions. Any reductions below that future path earns credits for the difference which can be sold to other emitters struggling to contain increases to baseline levels. See also cap and trade.

Adopted at COP-1, the mandate that launched negotiations leading to the adoption of the Kyoto Protocol.

Materials capable of being broken down rapidly by living organisms such as bacteria and fungi. This natural process of decay usually makes the materials harmless in a relatively short period of time. Food, sewage and most natural organic substances are biodegradable but manufactured materials such as glass, heavy metals and most types of plastic are not biodegradable.

Bio-Fuels are renewable fuels made from plants that can be used to supplement or replace the fossil fuels petroleum and diesel used for transport. The two main bio-fuels are ethanol and bio-diesel. Ethanol is produced from the fermentation of sugar or starch in crops such as corn and sugar cane. Bio-Diesel is made from vegetable oils in crops such as soybean, or from animal fats. Depending on the processes used to make bio-fuels, greenhouse emissions from cars and fuel-powered machinery can be substantially reduced by their use.

The chemical interactions among the atmosphere, biosphere, hydrosphere, and lithosphere.

The amount of organic matter, carbon, or energy content that is accumulated during a given time period.

A fuel produced from dry organic matter or combustible oils produced by plants. These fuels are considered renewable as long as the vegetation producing them is maintained or replanted, such as firewood, alcohol fermented from sugar, and combustible oils extracted from soy beans. Their use in place of fossil fuels cuts greenhouse gas emissions because the plants that are the fuel sources capture carbon dioxide from the atmosphere.

Reduction of existing atmospheric carbon dioxide (CO2) through capture and storage in plants and soils.

The portion of Earth and its atmosphere that can support life. The part (reservoir) of the global carbon cycle that includes living organisms (plants and animals) and life- derived organic matter (litter, detritus). The terrestrial biosphere includes the living biota (plants and animals) and the litter and soil organic matter on land, and the marine biosphere includes the biota and detritus in the oceans.

The animal and plant (fauna and flora) life of a given area.

Informal term for a political deal reached at COP-6 in Bonn, Germany, in 2001, by which governments agreed on the most politically controversial issues under the Buenos Aires Plan of Action. The Bonn agreements paved the way for the Marrakech Accords later in the same year.

A special UNFCCC fund for contributions from the Government of Germany to cover costs of UNFCCC events held in Bonn.

A proposal by the delegation of Brazil made in May 1997 as part of the negotiations on the Kyoto Protocol.  It included a formula to set differentiated emission reduction targets for Parties based to the cumulative impact of Parties’ historic emissions on the global average surface temperature.

A bubble is a regulatory concept whereby two or more emission sources are treated as if they were a single emission source.

The ratio of the instantaneous fractional change in the partial pressure of CO2 (pCO2) exerted by seawater to the fractional change in total CO2 dissolved in the ocean waters. The buffer factor relates the partial pressure of CO2 in the ocean to the total ocean CO2 concentration at constant temperature, alkalinity and salinity. The Revelle factor is a useful parameter for examining the distribution of CO2 between the atmosphere and the ocean, and measures in part the amount of CO2 that can be dissolved in the mixed surface layer.

Combination of several small-scale project activities to form a single project activity or portfolio to decrease transaction costs per unit of emission reductions.

A term used to refer to fuels consumed for international marine and air transport.

A body responsible for directing the work of the COP. Its 10 members are delegates elected by each of five regional groups. The Bureau includes the COP President, six Vice Presidents, the Chairs of SBI and SBSTA, and a rapporteur. Each of the Convention's subsidiary bodies also has a Bureau.

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.