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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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.

Carbon credits

Carbon credits

Reductions in greenhouse gas emissions tradable in the international carbon market, measured in avoided tons of carbon dioxide equivalent (tCO2e). Currently, there are two types of assets being traded on the market: (i) emission allowances allocated to an existing...

Diffusion in the oceans

Diffusion in the oceans

The process through which the atmosphere and water continuously exchange molecules of carbon dioxide. The diffusion of carbon dioxide into the oceans accounts for almost half of the carbon extracted from the atmosphere. The colder oceans absorb more CO2 than warmer...