¥
¥CDM
Clean Development
Mechanism. A Kyoto Protocol initiative under
which projects set up in developing countries to
reduce atmospheric carbon generate tradable credits called CERs. The credits can be used by
industrialized nations to offset carbon emissions at home and meet their Kyoto reduction targets. The
projects include afforestation, reforestation and implementation of clean fuels technology.
¥CERs
Certified Emission
Reductions. Credits generated under KyotoÕs Clean Development Mechanism
(CDM) - see above. They are designed to be used by industrialized countries to count
toward their Kyoto targets but can also be used by EU companies and governments
as offsets
against their emissions under the EU Emissions Trading Scheme.
EITs
Economies In Transition. Those
nations in Annex I of the Kyoto Protocol considered
developed but currently in transition
to a market economy. Generally the nations and former republics of the old
Soviet bloc.
¥Emissions g. A market-based system for
regulating the emission of greenhouse gases. The quantity of emissions is
controlled and the price allowed to vary by the issuing of tradable emission permits. These
rights to emit can be traded in a commercial market under an emissions trading scheme.
¥ERUs
Emission Reduction Units. Tradable
credits generated from activities to reduce greenhouse emissions in
former Soviet-bloc countries under the Kyoto ProtocolÕs Joint Implementation (JI) mechanism.