Externality

The fact of existing outside the perceiving subject. This economic phenomenon can be categorized as positive or negative when, in the price of the good placed on the market, the social gains and losses resulting from its production or consumption, respectively, are not included. Externality means a market failure, in the sense that the product put on the market does not have a price that contains all of the gains or losses resulting from its production.

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Parties

Refer to the countries that are part of a convention. These can be individual countries or economic blocs, such as the European Union.

REDD+ Global Partnership

According to a document signed in Oslo (Norway) in May 2010, the REDD+ Global Partnership brings a set of voluntary actions to develop issues related to the REDD mechanism. These actions are parallel to those under the United Nations Framework Convention on Climate...

First commitment period

Refers to the 2008-2012 period under the Kyoto Protocol.