Additionality | The concept of additionality addresses the question of whether the carbon project would have happened anyway, even in the absence of revenue from carbon credits. Only projects that are additional to the business-as-usual scenario are eligible to gain compensations from carbon revenue. Both mandatory and voluntary carbon schemes may require the demonstration of additionality. |
Baseline | The baseline of the project is a hypothetical scenario that presents the emissions that would have occurred without the project. Thus, the amount of emission reduction depends on the baseline emissions minus the emissions of the project. The baseline may be estimated through reference to emissions from similar activities and technologies in the same country or other countries, or to actual emissions prior to project implementation. |
Carbon Market / Emission Trading | Carbon market cab be simply classified as mandatory trading market of carbon dioxide emissions and voluntary carbon offset market. It is a part of emission trading, also known as cap and trade, that is used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants. In the carbon market, the pollutants are greenhouse gases. Greenfield have experiences and/or know-how in the below carbon schemes: - Kyoto protocol, especially in clean development mechanism (CDM)
- NSW Greenhouse Gas Abatement Scheme (Australia)
- Carbon Pollution Reduction Scheme (CPRS, proposed)
- European Union Emission Trading Scheme (EU ETS)
- New Zealand Emissions Trading Scheme (NZ ETS, proposed)
- Regional Greenhouse Gas Initiative (RGGI, USA)
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Clean Development Mechanism / CDM | Clean Development Mechanism is an arrangement under the Kyoto Protocol allowing industrialized countries (also known as Annex I countries) with a greenhouse gas reduction commitment to invest in emission reduction projects implemented in developing countries as an alternative to more expensive emission reductions in their own countries. CDM is supervised by the CDM Executive Board (CDM EB) and is under the guidance of the Conference of Parties (COP) of the United Nations Framework Convention on Climate Change (UNFCCC) and Meeting of Parties (MOP) of Kyoto Protocol. |
Gold Standard | The Gold Standard is the independent standard for emission reduction projects in Clean Development Mechanism (CDM), Joint Implementation (JI) and Voluntary Carbon Market. One of the purpose of the Standard is to increase the quality of carbon projects. It was designed to ensure that carbon credits are not only real and verifiable but that they make measurable contributions to sustainable development globally. |
Greenhouse gas accounting | Greenhouse gas accounting is the way to inventory emissions and removals of greenhouse gases. There are several guidances for accounting for GHG emissions from organizations and emission reduction projects. Meanwhile, Intergovernmentalon Panel Climate Change (IPCC) provides the guidance for national GHG inventories. |
Greenhouse gas inventory / GHG Inventory | Greenhouse gas inventory is a type of emission inventory that is an accounting of the amount of pollutants discharged into the atmosphere. Usually, business uses inventories to better understand the sources and trends in emissions. Unlike other inventories, GHG inventories include not only emissions from source categories, but removals as well. GHG inventories may support the business to identify emission reduction potentials and opportunities. |
Greenhouse Gas Protocol / GHG Protocol | The GHG Protocol is developed by World Resources Institute and the World Business Council for Sustainable Development. It is an internationally accepted greenhouse gas accounting and reporting standard for business. There are two separate but linked standards: - GHG Protocol Corporate Accounting and Reporting Standard
- GHG Protocol Project Quantification Standard
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ISO 14064 | ISO 14064 standards was published in 2006 and early 2007 by International Organization for Standardization, as the additions to the ISO 14000 series standards for environmental management. The ISO 14064 standards provide an integrated set of tools for organizations aimed at measuring, quantifying and reducing greenhouse gas emissions. The standards allow organizations participate in emission trading schemes according to a globally recognized standard. - ISO 14064-1:2006 Greenhouse gases -- Part 1: Specification with guidance at the organization level for quantification and reporting of greenhouse gas emissions and removals
- ISO 14064-2:2006 Greenhouse gases -- Part 2: Specification with guidance at the project level for quantification, monitoring and reporting of greenhouse gas emission reductions or removal enhancements
- ISO 14064-3:2006 Greenhouse gases -- Part 3: Specification with guidance for the validation and verification of greenhouse gas assertions
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Panda Standard | The Panda Standard is the first voluntary standard developed for the Chinese market for both corporate and consumer demand to act upon the climate change. There are seven core principles at the heart of the Standard according to its website: real, additional, measurable -reportable-verifiable, unique, permanent, demonstrate ancillary benefits, and unambiguously owned. |
Voluntary Carbon Standard | The Voluntary Carbon Standard (VCS) is a quality standard for voluntary carbon offset industry. Refering to Kyoto Protocol's Clean Development Mechanism, VCS establishes criteria for validating, measuring, and monitoring carbon offset projects. |
