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CARBON BUDGET

Is the amount of CO2 the world can emit while still having a likely chance of limiting warming to the 2°C target. The Intergovernmental Panel on Climate Change’s Fifth Assessment Report, issued in 2014, estimates the world has burned through two-thirds of the budget, and WRI calculates we could spend it entirely in two decades if emissions continue unabated.

Source: World Resources Institute (WRI)
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CARBON FOOTPRINT

The amount of greenhouse gases and specifically carbon dioxide emitted by something (such as a person’s activities or a product’s manufacture and transport) during a given period.

Source: Merriam Webster
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CARBON MARKET

A market that is created from the trading of carbon emission allowances to encourage or help countries and companies to limit their carbon dioxide (CO2) emissions. This is also known as emissions or carbon trading.

Source: Financial Times Lexington
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CARBON NEUTRALITY

Means annual zero net anthropogenic (human caused or influenced) CO2 emissions by a certain date. Every ton of anthropogenic CO2 emitted is compensated with an equivalent amount of CO2 removed (e.g. via carbon sequestration).

Source: World Resources Institute (WRI)
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CARBON OFFSETTING

Reducing emissions of greenhouse gases by purchasing credits through emissions reduction projects or carbon trading schemes.

Source: David Suzuki Foundation
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CARBON SEQUESTRATION

The long-term storage of carbon in plants, soils, geologic formations, and the ocean. Carbon sequestration occurs both naturally and as a result of anthropogenic activities and typically refers to the storage of carbon that has the immediate potential to become carbon dioxide gas. In response to growing concerns about climate change resulting from increased carbon dioxide concentrations in the atmosphere, considerable interest has been drawn to the possibility of increasing the rate of carbon sequestration through changes in land use and forestry and also through geoengineering techniques such as carbon capture and storage.

Source: Britannica
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CARBON TAX

Directly sets a price on carbon by defining a tax rate on greenhouse gas emissions or – more commonly – on the carbon content of fossil fuels.

Source: World Bank
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