Externality

The fact of existing outside the perceiving subject. This economic phenomenon can be categorized as positive or negative when, in the price of the good placed on the market, the social gains and losses resulting from its production or consumption, respectively, are not included. Externality means a market failure, in the sense that the product put on the market does not have a price that contains all of the gains or losses resulting from its production.

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Baseline

The baseline of a project is the scenario that represents the level of anthropogenic emissions/removals of CO2 equivalent that would occur in the absence of the proposed project activity. It serves as a basis for both verification of additionality and...

Permanence

Time at which carbon stored by sequestration remains in a carbon pool without being rereleased. Only permanent carbon pools are acceptable for climate policy purposes.

Reforestation

It is the conversion, directly induced by humans, of unforested land into forested land through planting, sowing and/or human-induced promotion of natural seed sources, in an area that has been forested but converted into non-forested land. For the first commitment...