The Carbon Market: A Primer for Airports (2011) / Chapter Skim
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Glossary
Glossary
Pages 62-72
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From page 62... ...
An emission allowance or carbon allowance generally refers to an instrument issued by a governing body which collectively with all other allowances issued, make up the cap-andtrade program. American Carbon ACR is an offset standards body which was the first private Registry (ACR)
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From page 63... ...
California Global Warming Often referred to as AB 32, this California Law establishes a Solutions Act comprehensive program for reducing GHG emissions in California. The law requires the California Air Resources Board (ARB)
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From page 64... ...
Carbon Neutral Achieving net zero GHG emissions by balancing the amount of carbon emitted with an equivalent amount sequestered or offset. Often this is achieved through obtaining offset credits equal to the number of metric tonnes emitted through a certain GHG emitting activity.
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From page 65... ...
The carbon offset credit issued by the Climate Action Reserve. Compliance Market A carbon market established by a governmental body, requiring regulated entities to procure and retire allowances or offset credits equivalent to their emissions from the previous year or other designated time period.
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From page 66... ...
Energy Intensive Describes processes or facilities that use or consume large amounts of energy in relation to the given quantity of their product output. EPA GHG Reporting Rule A regulatory requirement that large GHG-emitting sources report their GHG emissions on an annual basis to the EPA.
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From page 67... ...
Fossil Fuels A general term for buried combustible geologic deposits of organic materials, formed from decayed plants and animals that have been converted to crude oil, coal, natural gas, or heavy oils by exposure to heat and pressure in the Earth's crust over hundreds of millions of years. Global Warming Potential The index used to translate the level of emissions of various (GWP)
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From page 68... ...
They do not significantly deplete the stratospheric ozone layer, but they are powerful GHGs with global warming potentials ranging from 140 (HFC-152a)
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From page 69... ...
A powerful GHG with a global warming potential most recently evaluated at 310. Major sources of nitrous oxide include soil cultivation practices, especially the use of commercial and organic fertilizers, fossil fuel combustion, nitric acid production, and biomass burning.
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From page 70... ...
Entities that anticipate being regulated in the future may purchase offset credits to lessen their future exposure under a cap-and-trade program. By definition, in a precompliance market, there is no regulation, thus there functionally is little difference between the pre-compliance market and the voluntary market, other than demand drivers.
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From page 71... ...
The Cap The number of units of a pollutant that a regulating body sets for which all regulated entities cannot exceed in a given time frame. The Carbon Disclosure An international organization based in the United Kingdom, Project which works with shareholders and corporations to disclose the GHG emissions of major corporations.
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From page 72... ...
for projects that reduce emissions of certain air pollutants, not including GHGs. Verified Carbon Standard An offset standards body that establishes regulatory quality standards for development, quantification, and verification of GHG emission reduction projects, issuing Verified Carbon Units (VCUs)
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Key Terms
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