Glossary

A title of right over an intangible, incorporeal, tradable and fungible asset, representing the reduction or removal of one tonne of carbon dioxide equivalent.

Monetarily measurable goods and rights that represent benefits to the ecosystem resulting from the implementation of resources for the preservation, conservation, minimization and recovery of environmental characteristics and quality.

Permanent retirement of VERs from the market. Retirement is a procedure carried out by the entity responsible for the registry, which prevents the VER from being traded or transferred again. It takes place when a VER is purchased on the market and used to offset the emissions of a given activity, that is, when a buyer uses the VER to offset the amount of greenhouse gases accounted for in CO2e. The retirement procedure does not apply where the purchase is intended for resale or investment.

A system for buying and selling verified emission reductions in which market participants have no legal obligation to reduce or remove GHG emissions.

Absorption or sequestration of greenhouse gases from the atmosphere.

A market for carbon credit transactions under the provisions of this law.

The metric measure used to compare the emissions of various greenhouse gases (GHGs) based on the global warming potential of each, as defined under the United Nations Climate Change Conference of the Parties; carbon dioxide equivalent is the result of multiplying the tonnes of greenhouse gases emitted by a common equivalence metric.

A program of a given institution for verifying the compliance of an emission reduction or GHG removal project with a methodology and eligibility criteria.

A mechanism by which a person or company offsets, balances or equals the GHG emissions generated by its own activities through the acquisition of Verified Emission Reductions.

A measure associated with the actual decrease in GHG emissions between inventories of different years, whether consecutive or not.

A technical or legal standard governing the reduction or removal of GHGs so as to cover the entire jurisdiction determined by the standard – Jurisdictional System.

A document that certifies and recognizes emission reductions. One (1) carbon credit equals one tonne of greenhouse gases that were not released into the atmosphere.