Assigned amount units
Encyclopedia
An Assigned Amount Unit is a tradable 'Kyoto unit' or 'carbon credit
' representing an allowance to emit greenhouse gases comprising one metric tonne of carbon dioxide equivalent
s calculated using their Global Warming Potential
.
Assigned Amount Units are issued up to the level of initial "assigned amount" of an Annex 1 Party to the Kyoto Protocol
.
The "assigned amounts" are the Kyoto Protocol
Annex B emission targets (or "quantified emission limitation and reduction objectives") expressed as levels of allowed emissions over the 2008-2012 commitment period.
allows emissions trading between Annex B Parties (countries). Parties that have "assigned amount units" to spare because of reductions in emissions below their Kyoto commitment set out in Article 3 and Annex B may sell those units to countries that have emissions exceeding their targets. Article 17 also requires that any such emissions trading shall be supplemental to domestic action for the purpose of meeting quantified emission limitation and reduction commitments (QELRCs).
Carbon credit
A carbon credit is a generic term for any tradable certificate or permit representing the right to emit one tonne of carbon dioxide or the mass of another greenhouse gas with a carbon dioxide equivalent equivalent to one tonne of carbon dioxide....
' representing an allowance to emit greenhouse gases comprising one metric tonne of carbon dioxide equivalent
Carbon dioxide equivalent
Carbon dioxide equivalent and Equivalent carbon dioxide are two related but distinct measures for describing how much global warming a given type and amount of greenhouse gas may cause, using the functionally equivalent amount or concentration of carbon dioxide as the reference.- Global warming...
s calculated using their Global Warming Potential
Global warming potential
Global-warming potential is a relative measure of how much heat a greenhouse gas traps in the atmosphere. It compares the amount of heat trapped by a certain mass of the gas in question to the amount of heat trapped by a similar mass of carbon dioxide. A GWP is calculated over a specific time...
.
Assigned Amount Units are issued up to the level of initial "assigned amount" of an Annex 1 Party to the Kyoto Protocol
Kyoto Protocol
The Kyoto Protocol is a protocol to the United Nations Framework Convention on Climate Change , aimed at fighting global warming...
.
The "assigned amounts" are the Kyoto Protocol
Kyoto Protocol
The Kyoto Protocol is a protocol to the United Nations Framework Convention on Climate Change , aimed at fighting global warming...
Annex B emission targets (or "quantified emission limitation and reduction objectives") expressed as levels of allowed emissions over the 2008-2012 commitment period.
Application
Article 17 of the Kyoto ProtocolKyoto Protocol
The Kyoto Protocol is a protocol to the United Nations Framework Convention on Climate Change , aimed at fighting global warming...
allows emissions trading between Annex B Parties (countries). Parties that have "assigned amount units" to spare because of reductions in emissions below their Kyoto commitment set out in Article 3 and Annex B may sell those units to countries that have emissions exceeding their targets. Article 17 also requires that any such emissions trading shall be supplemental to domestic action for the purpose of meeting quantified emission limitation and reduction commitments (QELRCs).
See also
- Kyoto ProtocolKyoto ProtocolThe Kyoto Protocol is a protocol to the United Nations Framework Convention on Climate Change , aimed at fighting global warming...
- Certified Emission ReductionCertified Emission ReductionCertified Emission Reductions are a type of emissions unit issued by the Clean Development Mechanism Executive Board for emission reductions achieved by CDM projects and verified by a DOE under the rules of the Kyoto Protocol...
- Emission Reduction UnitEmission Reduction UnitThe Emission reduction unit is a trading unit under the Kyoto Protocol representing a reduction of greenhouse gases under the Joint Implementation mechanism, where it represents one tonne of equivalent reduced....
- Removal UnitsRemoval UnitsA Removal Unit is a tradable carbon credit or 'Kyoto unit' representing an allowance to emit one metric tonne of greenhouse gases absorbed by a removal or Carbon sink activity in an Annex I country....
- Voluntary Emissions ReductionVoluntary Emissions ReductionVoluntary Emission Reductions or Verified Emission Reductions are a type of carbon offset exchanged in the voluntary or 'Over-the-Counter' market for carbon credits...
- Emissions tradingEmissions tradingEmissions trading is a market-based approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants....
- Flexible mechanismsFlexible MechanismsFlexible mechanisms, also sometimes known as Flexibility Mechanisms or Kyoto Mechanisms), refers to Emissions Trading, the Clean Development Mechanism and Joint Implementation. These are mechanisms defined under the Kyoto Protocol intended to lower the overall costs of achieving its emissions targets...
- List of Kyoto Protocol signatories