First commitment period

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

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Externality

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...

Permanence

Permanence

Time at which carbon stored by sequestration remains in a carbon pool without being rereleased. Only permanent carbon pools are acceptable for climate policy purposes.