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Glossary Page 2Glossary Page 4Glossary Page 5Glossary Page 6Glossary Page 7Glossary Page 8Glossary Page 9| Word | Description |
| Carbon management: | The process an organisation develops and implements to measure and monitor their carbon emissions on an ongoing basis. |
| Carbon markets: | Carbon credits are freely tradable – companies and individuals are able to buy or sell them as they please according to prices set by market forces. This system of trading in carbon credits is known as the carbon market. Within the general carbon market, there are several sub-markets with different priorities and regulations. For example, the EU ETS involves a formal carbon market for allowances tradable within the scheme, regulated by the European Commission. There is also a formal carbon market for allowances under the RGGI in the US. In addition, there are numerous markets for voluntary carbon credits with varying degrees of regulation ranging from the formal legally binding Chicago Climate Exchange, to the completely unregulated market in voluntary carbon offsets. http://www.chicagoclimateexchange.com/ http://ec.europa.eu/environment/climat/emission/index_en.htm http://www.rggi.org/ |
| Carbon neutral: | By buying carbon credits to offset its greenhouse gas emissions, an organisation can have a neutral net global warming impact. It is then commonly said to be “carbon neutral”. |
| Carbon Pollution Reduction Scheme (CPRS) (Aus): | Commencing 2010, the CPRS is a government scheme which places a limit, or cap, on the amount of carbon pollution industry can emit. It requires participating companies to buy a pollution permit for every tonne of carbon they emit to the atmosphere. The CPRS will target around 1000 of Australia’s largest companies, specifically those who produce more than 25,000 tonnes of carbon per year. http://www.climatechange.gov.au/emissionstrading/index.html |
| Carbon Reduction Commitment (CRC) (UK): | A mandatory emissions trading scheme covering large businesses and public sector organisations. Inclusion will be a legal requirement for organisations whose half-hourly metered electricity use in the UK is above 6,000 mega watts per year. The scheme will commence in April 2010 and participating organisations will be required to calculate all their energy use and surrender carbon allowances for the emissions generated. |
