Term

Description

Explanation

AAU

Assigned amount units

One of the currencies of the Kyoto Protocol one AAU represents one tonne of C02 equivalent

AIJ

Activities implemented jointly

Under the UNFCCC, the term for an emissions reduction or carbon offset project where a developed country funds a project in a developing country.

Annex B

Those countries with emissions caps under Kyoto

39 emissions capped countries able to trade emissions.

Annex I

Countries covered in Annex 1 of the UNFCCC in the Berlin Mandate in 1995

36 industrialised countries plus those with economies in transition who can host JI and purchase CDM credits

Annex II

Countries covered in Annex II of the UNFCCC

Countries (original OECD plus EU) with an obligation to assist the economies in transition with emissions reductions

A&R

Afforestation and Reforestation

Establishing a forest estate where one did not exist previously or existed at some time in the past.

BAU

Business as usual

Reference to the outcome if there is no intervention or regulation specifically aimed at GHG emissions

C02

Carbon Dioxide

A greenhouse gas, approximately 0.03% of the Earths atmosphere by volume.

C02 emissions occur through combustion of fossil fuels and some industrial processes. Natural emissions of C02 also occur with the oceans, biomass decomposition and in the land

CDM

Clean Development

The mechanism whereby a Annex I country can initiate projects in a developing country that has no emissions cap and gains credits (CER) that can be used in an Annex B country to offset emissions in excess of assigned amount under Kyoto

CER

Certified Emission Reductions

Annex I investors in CDM projects can earn Certified emission reduction units (CERs) equivalent to one tonne of C02 for the amount of greenhouse emission reductions achieved by their CDM projects.

CFC

Chlorofluorocarbons

The gas used to operate your fridge

CH4

Methane

Gas generated by grazing animals and decay of organic matter; 21 times more potent than CO2 as a greenhouse gas.

COP

Conference of the parties

The conference where the parties to the United Nations Framework Convention on Climate Change discuss and agree on the technical implementation of the Kyoto Protocol

CTO

Certified tradable offsets

Emissions offsets issued and backed by the Costa Rican government from a reforestation project

EECA

Energy Efficiency and Conservation Authority

The New Zealand Government funded body charged with determining and implementing practical measures for achieving greater energy efficiency

EIT

Economies in transition

The Central and East European countries, Russia, and the former republics of the Soviet Union that are in transition from centrally-planned economies to market-based economies.

ERU

Emissions reduction unit

The unit of emission reduction achieved through a JI

EUA

EU allowances

Emissions allowances under the 2003 EU emissions trading scheme approved by the EU parliament in June 2003

First Commitment Period

2008-2012

The period under which Annex B countries will be subject to an emissions cap under the Kyoto Protocol

Fungible

Describing the interchange ability of type of emission reduction units

In the interests of having one grade of credit all credits no matter what their source must have equal characteristics and therefore be interchangeable.

GGOCAD

Greenhouse Gas Offset Cost Assessment Decision making

GHG

Greenhouse gases

The gases that trap solar radiation and help the earth to be habitable by maintaining the temperature. The Kyoto Protocol recognises six that contribute to the “enhanced greenhouse effect”. These are CO2, CH4, N20, hydrofluorocarbons, perfluorocarbons, and SF6

Grandfathering/Grandparenting

The process where an existing use right governs allocations of AAU. See sulphur dioxide trading

GWP

Global warming potential

The factor by which the same amount of a specific GHG is more effective in terms of global warming compared to C02

HFC

Hydrofluorocarbons

HFC are commonly used as a replacement for ozone depleting substances

IPCC

Intergovernmental Panel on Climate Change

The UN body that undertakes scientific assessments of climate change including climate change science, impacts, adaptation, and mitigation options

JI

Joint Implementation

The mechanism where a developed country funds a project in another developed country and the credit vests in the funding country

Kyoto

A city in Japan

This city hosted COP3 in December 1997. COP3 adopted a protocol hence the Kyoto  Protocol

LULUCF

Land use, land use change and forestry

Covered by Article 3.3 and 3.4 of the Kyoto Protocol

N20

Nitrous Oxide

NCAS

National Carbon Accounting System (Australia)

Scientific system to account for land-based carbon to an internationally credible standard

Non Annex B

Countries without emissions caps under Kyoto

Non Annex I

Developing countries

Countries able to host CDM projects

NZETS

New Zealand Emissions Trading System

System used to implement the Kyoto Protocol regulations within New Zealand to ensure NZ meets its Kyoto Obligations

NZU

New Zealand Unit

The fundamental unit of trade representing one tonne of CO2 in the NZETS stored in the NZ emissions registry

PFC

Perfluorocarbons

PFSI

Permanent Forest Sinks Initiative

NZ system to allow credit to be issued for the regeneration of native bush

RMU

Removal Units

From COP7, representative of the removal of one tonne of C02 from the atmosphere by forest based carbon sequestration. Not able to be banked between commitment periods

SBSTA

Subsidiary Body on Scientific and Technical Advice

One of the bodies advising the UNFCCC on the scientific basis for implementation of policy

SF6

Sulphur hexaflouride

A by product from manufacturing, particularly aluminium smelting

Sink

A pool or store of carbon that has the effect of lowering the amount of CO2 in the atmosphere

UNFCCC

United Nations Framework Convention on Climate Change

The international agreement on climate change which came into force in March 1994.

VA

Voluntary Agreements

The name for the non mandatory agreements between NZ government and industry which address GHG emissions arising from the 1995 to 2000 industry program.