Acceptance/Approval

These instruments have the same legal effect as ratification and are used when, at national level, constitutional law does not require a treaty to ratified by the head of state.

Accession

Accession is the act whereby a state accepts the offer or the opportunity to become a party to a treaty already negotiated and signed by other states.

Additionality

Emission reductions over and above the general trend or "Business as usual" scenario.

Annex I

Developed countries and countries with economies in transition (EIT). The industrialised countries listed in this Annex have accepted emission targets for the period 2008 - 2012 as per Article 3 and Annex B of the Kyoto Protocol.They include the 24 original OECD members, the EU, and 14 countries with economies in transition.

Annex II

24 original OECD members plus the EU. The countries listed in this Annex to the convention have a special obligation to help developing countries with financial and technological resources.

Annex B

Countries with assigned emission reduction commitments.

AOSIS

The Alliance of Small Island States is an ad hoc coalition of low-lying and island countries. These 42 countries are particularly vulnerable to sea-level rise and share common positions on climate change.

Carbon Sequestration

Capture and long term storage of carbon in forests/soils/ocean. (ref. Art 3 of KP) Credits obtained from Carbon Sequestration are called Emission Removal Units (RMU's).

Emissions Trading

Trading of emission allowances between parties with emission commitments. Emissions trading Units are called Assigned Allowance Unit (assigned at the national level, based on an Annex 1 countries reduction commitment under Annex B of the KP)

Financial Additionality

Financial gain resulting from a project over and above that gained for CO2-e credits

Flexibility Mechanisms

Emissions Trading, Joint Implementation and the Clean Development Mechanism

G-77/China

132 developing countries opposed to binding emission reductions

OECD

The organisation for Economic Cooperation and Development.

PCF

The Prototype Carbon Fund was set up by the World Bank to facilitate CDM and JI projects from which it buys credits generated.

Ratification

Ratification defines the international act whereby a state indicates its consent to be bound to a treaty if the parties intended to show their consent by such an act.

Senter

Senter is a Dutch government scheme similar to the PCF.

Signature

The head of state or designated official indicates their countries agreement with the adopted text of the convention or the protocol and its intension to become a party by signing.

Umbrella Group

Group supporting emissions trading. Includes USA, Canada, Australia, Japan, EU

Glossary taken from: http://www.carbonventures.com/policy/policy_03.php