The mechanism allows emission-reduction projects in developing countries to earn credits.
In addition, the use of tradeable carbon units combined with the Clean Development Mechanism (CDM) - whereby the Kyoto signatories from industrialised nations can invest in emission-reduction projects in developing countries - has huge potential for environmental damage and fraud.
Prior to coming to Yale, she was the director of Programs and Partnerships at the Gold Standard Foundation, a certification schema for greenhouse gas emission-reduction projects under the Kyoto Protocol's offset scheme and for the voluntary carbon offset markets in the U.S. and Australia.
The state Department of Food and Agriculture has $67.5 million, provided through the state's greenhouse gas cap-and-trade program, to help growers with water efficiency and emission-reduction projects.
Of all these efforts, California's is the most advanced, and not only is it slashing emissions, but its economy has been on a terror since implementing cap-and-trade, which in turn is bringing about $1 billion per year into state coffers for emission-reduction projects.
El Totoral was financed as a carbon emission reduction project and was developed to meet rising demand for energy in Chile.
So, if you're an emitter you can propose an emissions reduction project to the government − it might be to improve your energy efficiency, store carbon in the soil or plant trees.
DNV even verifies projects for the Clean Development Mechanism, the United Nations' carbon emissions reduction project, though it was briefly suspended from this activity five years ago after a U.N. audit found problems with its internal documentation.
A carbon credit (often called a carbon offset) is a financial instrument that represents a tonne of CO2 (carbon dioxide) or CO2e (carbon dioxide equivalent gases) removed or reduced from the atmosphere from an emission reduction project, which can be used, by governments, industry or private individuals to offset damaging carbon emissions that they are generating.
The latest of these is his furnace-emissions-reduction project.
