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Glossary

BidCarbon Trade / Glossary

Solutions

Solutions

A principle stating that the CO2 reductions or removals achieved by a project would not have occurred without the project's intervention.

Additionality

The emissions that would be released into the atmosphere under a 'business as usual' scenario, without the implementation of any specific interventions or reduction strategies.

Baseline Emissions

A market mechanism focussed on improving or maintaining biodiversity levels

Biodiversity Credits

Buffer Pool

A specified amount of carbon credits in a project that are reserved and not sold, to be used in the event of any unforeseen loss or damage that may occur to the project.

CO2, GHG, And CO2e

Carbon Dioxide (CO2) is a Greenhouse Gas (GHG) that is produced both naturally and through through human activities. Carbon Dioxide Equivalent (CO2e) is a measure that is used to standardise and compare GHGs.

CSRD

EU legislation that extends the scope of sustainability reporting, making it a legal requirement for companies to report on their sustainability performance.

The process of measuring and documenting the emissions of a company, entity, or product.

Carbon Accounting

Carbon credits are tradeable certificates that represent the reduction, avoidance, or removal of one tonne of CO2 from the atmosphere.

Carbon Credits

The state in which CO2 emissions are neutralised by an equal amount of CO2 being removed from the atmosphere.

Carbon Neutrality

Carbon Offset

A reduction in emissions achieved either through carbon avoidance or carbon removal, with the intention of compensating for emissions.

Carbon removal actively extracts CO2 and GHG from the atmosphere, while carbon avoidance prevents future emissions.

Carbon Removal VS Carbon Avoidance

Carbon Sequestration

The process of capturing and storing atmospheric CO2 in a different form.

An equation that is used to determine the net climate benefit of a project

Climate Benefit Equation

Any positive outcomes that a carbon credit project generates in addition to the primary goal of emission reductions or removals, aligning with social, environmental, and economic development goals.

Co-Benefits

A regulatory system enforced by governments where a cap is set on emissions, and the unused amount can be traded.

Compliance Market

The total amount of both direct and indirect emissions generated by a company/organisation.

Corporate Carbon Footprint

Permanently removing a carbon credit from circulation after it has been used to offset/neutralise emissions.

Credit Retirement

Double counting occurs when an emission reduction or removal is claimed more than once.

Double Counting

A regulatory system governing the compliance carbon credit market enforced by the European Union, where a cap is set on emissions, and the unused amount can be traded.

European Emissions Trading System

Greenwashing

A deceptive marketing tactic of providing misleading information about how sustainable products, services, or practices are.

The residual emissions arising from sectors and processes where reducing emissions is particularly challenging.

Hard-To-Abate Emissions

The Intergovernmental Panel on Climate Change (IPCC) is a United Nations body, established to assess scientific information on climate change.

IPCC

Insetting

Integrating carbon offset projects directly into a company's own supply chain or operational process rather than investing in external projects.

Unintentional increase in emissions outside of a carbon credit project's scope that takes place as a result of the project's implementation.

Leakage

Life Cycle Assessment

A framework for assessing the environmental impacts associated with all stages of a product's life cycle.

Carbon credit projects undergo continuous Monitoring, Reporting, and Verification (MRV) in order to assess their performance and maximise their integrity.

MRV And Digital MRV

A tool that graphically represents various emissions reduction measures and the subsequent cost or saving associated with each strategy.

Marginal Abatement Cost Curve

Comprehensive procedures that guide the calculation, reporting, and verification of carbon credit projects.

Methodology

A structured approach for companies to minimise their emissions, aligning with the path to achieving Net Zero targets.

Mitigation Hierarchy

NFRD

The Non-Financial Reporting Directive (NFRD) is a part of European Union legislation that mandates large companies to disclose non-financial and diversity information.

Nature-Based Solutions VS Engineered Solutions

Nature-based Solutions (NbS) make use of natural processes and ecosystems to mitigate climate change, and Technological-based Solutions (TbS) make use of engineered processes and innovative technologies to mitigate climate change.

The state where the residual amount of CO2 or GHG emissions have been neutralised by an equivalent amount that of emissions that have been removed.

Net Zero

A framework designed to ensure the integrity and effectiveness of carbon offsetting efforts as part of wider strategies to achieve Net Zero emissions.

Oxford Principles

An international treaty marking a collective commitment of 196 countries to combat climate change and adapt to its effects.

Paris Agreement

A section of the Paris Agreement dedicated to creating both market and non-market mechanisms to promote international collaboration for climate action.

Article 6

The longevity and durability of the emission reductions or removals of a project, based on the risk that the sequestered carbon could be re-released.

Permanence

The global atmospheric conditions concerning greenhouse gas concentrations and global temperatures that existed before the widespread impact of industrialisation, often used as the baseline scenario for climate change forecasting.

Pre-Industrial Levels

The entity responsible for managing the projects that actively remove, reduce, or avoid emissions.

Project Developer

Registry

A database that documents the issuance, sale, transaction history, and retirement of carbon credits.

Residual Emissions

The greenhouse gas (GHG) emissions that remain after all feasible measures to reduce a company's carbon footprint have been implemented.

Science Based Targets Initiative (SBTi)

A framework and guideline that helps companies set ambitious carbon reduction targets in line with the latest climate science.

Scope 1 emissions includes direct emissions from a company's operations, Scope 2 includes emissions from electricity usage, and Scope 3 includes all indirect emissions within the company's value chain.

Scope 1, 2, And 3 Emissions

A global initiative adopted by the UN comprising of 17 interconnected goals designed to achieve a more sustainable future by 2030.

Sustainable Development Goals

The residual emissions that cannot be eliminated due to technological limitations or integral process requirements.

Unavoidable Emissions

A project's vintage refers to the year in which the emission avoidance or removal took place and the carbon credits were issued.

Vintage