Jargon

AB32	California Climate Bill signed in 2006. Sets targets for emission reduction stretching to 2020 and makes the Air Resources Board responsible for monitoring and reducing emissions
Additionality	The concept that a Carbon Offset only occurred as a result of the Carbon Market. For example, a project that is mandated by law cannot be considered Additional. Most Carbon Standards of repute have tests to prove Additionality.
Cap and Trade	A system where emitters are given caps which they must meet by either local abatement, or through purchasing offsets.
Carbon Credit	A generic term used to cover Carbon Offsets and Allowances
CCAR	California Climate Action Reserve. A voluntary standard.
CCX	Chicago Climate Exchange.
CDM	Clean Development Mechanism. One of the two flexible offset mechanisms defined in the Kyoto protocol. Offset Projects hosted in an emerging country. (Non Annex 1 country in Kyoto Speak)
CER	Certified Emission Reduction. Carbon credit that is the result of a CDM project.
CFI	Certified Financial Instrument. The name given to a Carbon Credit within the Chicago Climate Exchange.
EUA	European Union Allowance. An offset allowance which is allocated to capped entities under the EUETS.
EUETS	European Union Emission Trading Scheme. This is the EU's implementation of the Kyoto Protocol. It is a Cap and Trade scheme which allows for both CDM and JI projects.
Fungibility	Carbon trading is probably the only place where you will hear this word, although it existed long before we became concerned about Global Warming. It means one type of Carbon Credit is exchangeable with another. Unfortunately, due to the wide array of Carbon Standards we are someway off this laudable objective,
Gold Standard	A voluntary carbon standard that goes on step further in that it also covers standards for Sustainability. Foe example a new Hydroelectric Offset Project may be very Additional but if construction necessitates displacing people and wildlife it is likely to fail the "Does not harm" test.
GWP	Greenhouse Warming Potential. There are six Greenhouse gases covered under most Global Warming legislation, C02, CH4, N20, SF6, HFC and PFCs. The GWP is a number that shows how much more damaging the same mass of the gas is when compared to the same mass of CO2. The GWP of CO2 is 1. CH4 is 20, and HFC23 is 11700.
JI	Joint Implementation. A Kyoto term referring to an Offset Project hosted in an "Economy in Transition". These are mainly ex-Eastern block countries.
Kyoto Protocol	The start of the fight against climate change. Signed in 1997. Ratified by all developed countries with the exception of the US. Sets targets for GHG emission reductions and includes the flexible mechanisms JI and CDM.
Leakage	Refers to the migration of an emitter under a Cap and Trade scheme to an area without a Cap.
Methodology	Most Carbon Standards have documented protocols about how a Carbon Offset Project is defined. The Methodology defines for a given scope of Offset Project rules on Additionality, and measurement/verificication techniques
Renewable	Used to describe a source that is not fossil based. Typically covers Hydroelectric, wind solar, geothermal etc. Nuclear energy may or may not be included in the definition.
Retiring a credit	A credit is retired when it is used to fulfill the Cap requirement of a capped entity (Compliance Markets) or is surrendered as used in the Voluntary markets. Typically, all credits are serialized and tracked through registries. This provides transparency and avoids double selling.
RGGI	Regional Greenhouse Gas Initiative. The first Cap and Trade scheme in the US. Covers 10 states in the NE of the US
RPS	Renewable Portfolio Standard. The requirement that a Utility in a given area must met a certain proportion of its generation from Renewable sources by a given date. Many US states have binding targets.
TCO₂e	A ton of CO2 'Equivalent'. This is the standard measurement of Carbon Dioxide emissions. The Equivalent enables any of the six greenhouse gases be expressed as one standard unit. See GWP definition. One ton of Methane is expressed as 20 TCO₂e. The only other part to be aware of is Europeans use the metric Tonne (1000 kg, or 2200 lbs approx), the US sometimes uses the "Short Ton" (2000 lbs). Frequently people are less that rigorous in how they express it, so checking can be worthwhile.
UNFCCC	United Nations Framework Convention on Climate Change. The name of the secretariat charged with supporting the administration of the Kyoto Protocol.
VCS	The Voluntary Carbon Standard.
VER	Verified Emission Reduction. This has two meanings. A generic title for offsets in the Voluntary Markets. It is also used more specifically to name Offset Credits under the Gold Standard and Voluntary Carbon Scheme
VER+	A Voluntary Carbon Standard devised by TUV Sud.
WCI	Western Climate Initiative. Regional Cap and Trade scheme originally encompassing Western States but now stretches to include Mexico and regions across Canada. Not yet (2008) in place.