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Early Crediting
Early credits can be given for projects implemented between 2000 and 2008 to achieve compliance in the first commitment period.
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Emission Reduction Unit (ERU)
Permits attained through a JI project. One ERU is equivalent to one tonne of carbon dioxide.
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Emission Source
Separately identifiable part (point or process) of an installation where relevant greenhouse gases are emitted.
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Emissions Trading
Emissions trading allows for transfer of AAUs across international borders or emission allowances between companies covered by a Cap and Trade scheme. However, it is a general term often used for the three Kyoto mechanisms: JI, CDM and emissions trading.
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Emission Reduction Purchase Agreement (ERPA)
Binding purchase agreement signed between buyer (of CERs or ERUs) and seller.
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EU ETS Verification
Activities carried out by a verifier to be able to provide the AER’s verification opinion taking into account, among other criteria, the GHGET conformity.
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European Union Allowances (EUA)
EU Allowances, the tradable unit under the EU ETS. Equals 1 tonne of CO2.
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European Union Emissions Trading Scheme (EU ETS)
The first market-based instrument specifically designed by the European Community for climate change (and independent of the Kyoto Protocol but with the same purpose). The EU ETS was approved by Directive 2003/87/CE and oversees emission allowance trading in the European Community for operators of certain installations that carry out activities within the scope of the Directive. The first EU ETS commitment period is from 2005 to 2007 with subsequent five year periods established with the second EU ETS commitment period – 2008-2012 – coinciding with the first Kyoto Protocol commitment period.