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Carbon & GHG Glossary

All   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

First Validator

The first validator that undertakes an assessment of a methodology element.

First Verifier

The first verifier that undertakes an assessment of an AFOLU project element.

Flexible Mechanism

mechanisms defined under the Kyoto Protocol intended to lower the overall costs of achieving its emissions targets. These mechanisms enable Parties to achieve emission reductions or to remove carbon from the atmosphere cost-effectively in other countries.


Forest Stewardship Council - a non-profit organization devoted to encouraging the responsible management of the world’s forests.


The ability to exchange one type of reduction credit achieved under a specific mechanism for reduction credit achieved under a different mechanism. The more fungible a reduction credit is, the more liquid the credit is.

Futures Contract

a legally binding agreement to buy or sell a commodity or financial instrument sometime in the future

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