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Clean Development mechanism

The Clean Development Mechanism is one of the Flexible Mechanisms defined in the Kyoto Protocol that provides for emissions reduction projects which generate Certified Emission Reduction units which may be traded in emissions trading schemes. The flexibility mechanisms were introduced into the Kyoto Protocol by the US government. Developing countries were highly skeptical and fiercely opposed to the flexibility mechanisms (Carbon Trust, 2009, p. 6).

Carbon Footprint

A carbon footprint is the total greenhouse gas (GHG) emissions caused by an individual, event, organization, service, or product, expressed as carbon dioxide equivalent. Greenhouse gases, including the carbon-containing gases carbon dioxide and methane, can be emitted through the burning of fossil fuels, land clearance and the production and consumption of food, manufactured goods, materials, wood, roads, buildings, transportation and other services.

Emission Trading Scheme

Emissions trading (also known as cap and trade, emissions trading scheme or ETS) is a market-based approach to controlling pollution by providing economic incentives for reducing the emissions of pollutants. Emission trading scheme constrains the aggregate emissions of regulated sources by creating a limited number of trade able emission allowances, which emission sources must secure and surrender in number equal to their emissions.

Carbon Reduction Commitment

The CRC Energy Efficiency Scheme (the CRC, formerly the Carbon Reduction Commitment) was a mandatory carbon emissions reduction scheme in the United Kingdom which applied to large energy-intensive organisations in the public and private sectors. It was estimated that the scheme would reduce carbon emissions by 1.2 million tonnes of carbon per year by 2020. The scheme has also been credited with driving up demand for energy-efficient goods and services.

Biogenic Co2 Emission

Biogenic CO2 emissions are CO2 emissions related to the natural carbon cycle, as well as those resulting from the combustion, harvest, combustion, digestion, fermentation, decomposition, or processing of biologically based materials. Burning biomass results in emissions which are considered carbon-neutral, because the carbon is generated by the natural carbon cycle. The method is fast, reliable and cost-effective.