BECCS
Bioenergy with Carbon Capture and Storage. Involves the use of biomass converted into fuel and burned to produce energy, while the resulting CO2 is captured and stored.
VCM
The Voluntary Carbon Market. Describes a market where project-based carbon credits are traded voluntarily and outside the scope of any national law (and regulation).
Carbon Leakage
Carbon leakage refers to the unintended migration of carbon-emitting activities away from a jurisdiction that restricts CO2 emissions, and towards a jurisdiction where no such restrictions exist. For example, Europe’s Emissions Trading System imposes a cost of CO2…
Additionality
Environmental additionality refers to whether a carbon project is reducing or removing emissions compared to what would be expected to happen under a Business As Usual (BAU) scenario.
Carbon Positive
Carbon positive generally refers to an entity or business activity which causes emissions of carbon dioxide, while ‘carbon negative’ refers to activities that create a net reduction in CO2 emissions.
Carbon Insetting
Carbon insetting involves an organisation implementing its own carbon reduction projects for its own purposes and within its own value chain, without having to enter the market to buy third-party carbon credits.
ETS
An Emissions Trading System (ETS) is a market-based approach to reducing GHG emissions.
Renewable Energy
Renewable energy refers to energy (most typically electricity) generated from sources that are not finite. Such sources do not emit greenhouse gases when converted into power.
Green Steel
The production of steel without the use of fossil fuels. This can include the use of an Electric Arc Furnace or hydrogen-based direct reduction of iron ore.