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Carbon & GHG Glossary

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

EPA (EPA)

United States Environmental Protection Agency – a federal agency of the United States created in 1970 to protect human health and to safeguard the natural environment – air, water, and land upon which life depends. EPA leads the United States’ environmental science, research, education and assessment efforts.


ERU - Emission Reduction Unit (ERU)

one metric tonne of CO2 equivalent. A common unit of reduction under Joint Implementation.


EU ETS (EU ETS)

European Union Emissions Trading Scheme – A trading scheme created and approved by the European Union in 2003 to prepare for the coming mandatory limits on emissions agreed to by the EU under the Kyoto Protocol.


Expiry Date

the specific date during the month prior to a futures contract’s delivery month on which options on the futures expire.

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.

FSC

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

Fungible

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

Georgia Carbon Sequestration Registry

is a non-profit program established by Georgia Senate Bill 356 in 2004 and is administered by the Georgia Forestry Commission (GFC) and the Georgia Superior Clerks Cooperative Authority (GSCCCA) to provide forest landowners, municipalities, and public and private entities with an official mechanism for the development, documentation, and reporting of carbon sequestration projects undertaken in Georgia.

GHG (GHG)

a system or process that emits a Greenhouse gas into the air.


GHG Sink

a project or process that removes and/or sequesters Greenhouse gases from the air.

Global Warming Potential - (GWP) (GWP)

an index that compares the heat trapping ability of various greenhouse gases to CO2 by their varying power to accelerate global warming as well as their duration in the atmosphere and radiative forcing impact.


Green Building Initiative

a not for profit organization whose mission is to accelerate the adoption of building practices that result in energy-efficient, healthier, and environmentally sustainable buildings by promoting credible and practical green building approaches for residential and commercial construction.

Greenhouse Gas (GHG) Project (GHG)

a Greenhouse Gas (GHG) project as defined ISO14064-3:2006 Clause 2.14. Projects can include one or more activities.


Greenhouse Gases (GHG) (GHG)

trace gases that influence how energy flows in the Earth’s atmosphere by absorbing infrared radiation. There are six primary Greenhouse gases covered under the Kyoto ProtocolMethane CH4, Carbon Dioxide CO2, PFCs perfluorocarbons, Nitrous Oxide N2O, Hydroflourocarbons HFCs, and Sulphur Hexaflouride SF6. It is important to note that CO2, ozone, methane, and water vapor nitrous oxide all occur naturally.


Hedging

the practice of offsetting the price risk inherent in any cash market position by taking an equal but opposite position in the futures market.

HFCs (HFCs)

See Hydroflourocarbons


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