icone_image Glossary Carbon Market

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  • eCO2data Metrics

    Time..

    In validation: Total elapsed days between “opening comments” and the registration request date.
    In registration: Total elapsed days from registration request until approval.
    To be registered: Total elapsed days from Validation until Registration approval (Validation + Registration).
    To first issuance: Total elapsed days from registration approval until first credit issuance.
    Total to first issuance: Sum of entire validation, registration and ‘to first issuance’ days; i.e. the entire process.

    Issuance Progress: number of issued credits divided by planned credits.
    Planned: This is the total emission reductions planned over the selected crediting period.
    Planned Over the Issued Period: credits that should have been issued over a given issuing period. We compute that number thanks to a multiplication of the verified days and the yearly tCO2 reduction forecast/ year in the PDD.
    Planned per Day: total planned emission reductions divided by total crediting period’s number of days.(1y=360 days)
    Issuance Success: This ratio assesses the performance of the issuance during the verification period (Total issued divided by Planned over the issued period).
    Verified Days: Number of verified credit issuing days for a selected crediting period.
    Verified Days Progress: number of verified days divided by the number of days.
    Potential Remaining Credits to be Issued: based on the current issuance success, we compute the total expected credits and subtract the total issued credits from it. For instance: if issuance success = 50%, issued credits = 200,000 and total predicted credits = 1,200,000 then the potential remaining credits to be issued = 400,000; the following metrics are computed independently of the selected crediting period(s).
    Credit Latency: Number of days between the end of the monitoring period and the effective issuance of credits. If several monitoring periods have to be considered, then the average latency is calculated.

  • Additionality

    Under the Kyoto Protocol, Certificates from JI and the CDM will be awarded only to project-based activities where emission reductions are “ additional to those that otherwise would occur”.

  • Baseline and Baseline Scenario

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

  • Certified emission reductions (CER)

    A Kyoto Protocol unit equal to 1 metric tonne of CO2 equivalent. CERs are issued for emission reductions from CDM project activities. Two special types of CERs called temporary certified emission reduction (tCERs) and long-term certified emission reductions (lCERs) are issued for emission removals from afforestation and reforestation CDM projects.

  • Clean Development Mechanism (CDM)

    A mechanism under the Kyoto Protocol through which developed countries may finance greenhouse-gas emission reduction or removal projects in developing countries, and receive credits for doing so which they may apply towards meeting mandatory limits on their own emissions.

  • Designated National Authority (DNA)

    An office, ministry, or other official entity appointed by a Party to the Kyoto Protocol to review and give national approval to projects proposed under the Clean Development Mechanism.

  • Designated Operational Entity (DOE)

    A domestic legal entity or international organization accredited and designated by the CDM EB. The DOE validates and requests registration of a proposed CDM project activity as well as verifies emission reductions of a registered CDM project activity.

  • Emission reduction unit (ERU)

    A Kyoto Protocol unit equal to 1 metric tonne of CO2 equivalent. ERUs are generated for emission reductions or emission removals from joint implementation projects.

  • Emission reduction Purchasing Agreement (ERPA)

    Binding purchasing agreement signed between buyer (of CERs or ERUs) and seller.

  • Issuance pipeline

    The Issuance pipeline shows all the events particular to a chosen project concerning the issuance phase(such as CER issuance)

  • Joint implementation (JI)

    A mechanism under the Kyoto Protocol through which a developed country can receive "emissions reduction units" when it helps to finance projects that reduce net greenhouse-gas emissions in another developed country (in practice, the recipient state is likely to be a country with an "economy in transition"). An Annex I Party must meet specific eligibility requirements to participate in joint implementation.

  • Letter of Approval (LoA)

    The letter provides formal approval of the project as a JI or CDM project by the parties involved.

  • Letter of Endorsement (LoE)

    The letter means confirmation to the project sponsor of the preparedness of the host country to endorse the further development of the project in question.

  • Project Design Document

    Document completed by project developers in order to register their project under the CDM or JI.

  • Project Idea Note (PIN)

    A short form of project description, about 6 pages, that provides such information about the projects as type, size and location of the project, estimation of anticipated total amount of GHG reduction compared to “business -as- usual” scenario, etc.

  • Registration pipeline

    The registration pipeline shows all the events particular to a chosen project. It concerns the validation and registration phase (such as registration requests,..).

  • United Nations Framework Convention on Climate Change (UNFCCC)

    The overall framework guiding the international climate negotiations.

  • Validation

    The process of independent evaluation of a CDM project by an accredited Independent Entity according to requirements to CDM projects

  • Verification

    In order for CDM projects to have a formalised validation of an emission reduction stream, a recognised independent third party must confirm that claimed emission reduction activity has occured.

  • Verified Carbon Standard (VCS)

    Formerly named the Voluntary Carbon Standard, this standard is now the quality standard for the voluntary carbon offset industry. VCS establishes criteria for validation, measurement and monitoring of these carbon offset projects.