Flexibility Mechanisms: The Kyoto Protocol has provisions that allow for flexibility in how, where, and when emissions reductions are made via three mechanisms: the Clean Development Mechanism, International Emission Trading and Joint Implementation. These mechanisms have been established to increase flexibility and hence reduce the costs of reducing emissions.
Forest Sequestration: Farmers and/or landowners enter into conservation agreements that restrict the activities implemented on contracted lands and set up forest management plans.
GHG Sequestration & Quantification: Keeping the lands out of production and replacing lost biomass maintains the carbon currently stored in land biomass and the conserved vegetation continues to increase carbon sequestration. Such actions can be scientifically quantified through periodic plant samples that measure the carbon levels and any increases in sequestration.
Additionality: Entering into conservation agreements is a voluntary action by the landowner.
Verification: Reforestation and Aforestation can be verified by independent third parties to confirm that these lands are held out of production and that the scientific measurement is consistent.
Ancillary Benefits: a) Protection of local ecosystem that is easy to publicly identify, b) Positive public relations with involved farmers and landowners
Fossil Fuels: Carbon-based fuels that include coal, petroleum, natural gas and oil.
Fuel Cycle: Refers to the total life of a fuel in all of its uses and forms. The stages of a fuel cycle may include extraction or generation, transportation, combustion, air emissions, by-product removal, further transportation, and/or disposal.
Fuel Switching: Fuel switching is the substitution of conventional and existing technologies for more efficient and less carbon-intensive fuel technologies including re-powering, upgrading instrumentation, controls, and/or equipment, more efficient utilisation of fuel and fuel switching.
GHG Reduction & Project Quantification: Projects offset power from fossil fuel sources by converting supply to cleaner sources and improving the efficiency of distribution. Energy use is measured before and after converting the fuel supply. Emissions are calculated using emissions factors and the difference between the emissions before the conversion and after the conversion is the quantified reduction.
Additionality: Improvements are outside of regulatory requirements.
Verification: Electricity production and consumption is metered and verified by independent third parties utilising electricity bills and meter readings.
Fugitive Emissions: Unintended gas leaks from the processing, transmission, and/or transportation of fossil fuels (such as methane given off during oil and gas drilling and refining).