¥ETS
Emissions Trading Scheme.
¥EUA
European Union
Allowances. Tradable emission credits from the European
Union Emissions Trading Scheme. Each allowance carries the right to emit one ton of carbon dioxide.
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¥ÒHot airÓ
Also called Òpaper
creditsÓ, this refers to carbon credits for
emission reductions
that occurred without any deliberate action. The prime example being the
carbon credits arising under Kyoto in Russia and the Ukraine where the collapse
of Soviet-era industry in the 1990s has seen emissions fall well below 1990
levels, the base year for reduction calculations, without the implementation of
any climate-related measures.
¥LULUCF
Land use, land use
change and forestry. The term given to tree-planting projects,
reforestation and afforestation, designed to remove carbon from the atmosphere.
¥NAPs
National Allocation
Plans. These set out the overall emissions cap for countries in the EU Emissions
Trading Scheme, and the allowances that each sector and individual
installation within each country receives.
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