Hot air
Encyclopedia
Hot air in economics refers to the Assigned Amount Units
(AAU) credits given for the reduction of Green House Gas (GHG) emissions among the former Soviet Bloc countries since 1990.
The fall of the Soviet Union led to massive restructuring and deindustrialization of many of the former Soviet Bloc, when the Kyoto Protocol
was negotiated, there were several mechanisms that allowed for trading of emissions credits. These included credits produced under the Joint Initiative (JI) provision: Emission Reduction Unit
credits; the Clean Development Mechanism
(CDM): Certified Emission Reduction
credits; and Assigned Amount Units
(AAU) now also widely known as Hot Air in the post Soviet context. These were given to Russia as an incentive to sign the treaty. Critical climate change experts decry these credits as a way for countries to buy their way out of taking action to address climate change
.
Assigned amount units
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 equivalents calculated using their Global Warming Potential....
(AAU) credits given for the reduction of Green House Gas (GHG) emissions among the former Soviet Bloc countries since 1990.
The fall of the Soviet Union led to massive restructuring and deindustrialization of many of the former Soviet Bloc, when 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...
was negotiated, there were several mechanisms that allowed for trading of emissions credits. These included credits produced under the Joint Initiative (JI) provision: Emission Reduction Unit
Emission Reduction Unit
The 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....
credits; the Clean Development Mechanism
Clean Development Mechanism
The Clean Development Mechanism is one of the "flexibility" mechanisms defined in the Kyoto Protocol . It is defined in Article 12 of the Protocol, and is intended to meet two objectives: to assist parties not included in Annex I in achieving sustainable development and in contributing to the...
(CDM): Certified Emission Reduction
Certified Emission Reduction
Certified 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...
credits; and Assigned Amount Units
Assigned amount units
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 equivalents calculated using their Global Warming Potential....
(AAU) now also widely known as Hot Air in the post Soviet context. These were given to Russia as an incentive to sign the treaty. Critical climate change experts decry these credits as a way for countries to buy their way out of taking action to address climate change
Climate change
Climate change is a significant and lasting change in the statistical distribution of weather patterns over periods ranging from decades to millions of years. It may be a change in average weather conditions or the distribution of events around that average...
.
External links
- Japan Denies Buying ‘Hot Air’ to Meet Kyoto Target
- Russia and carbon trading, New York Times, 28 Dec 2005