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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Marrakesh Agreement

Marrakesh Agreement

With 39 decisions, the Marrakesh Agreement compiles the principles, nature, scope, types, and procedures of the flexible mechanisms (CDM, Joint Implementation and Emissions Trading). It was in Africa, in the city of Marrakesh, during the seventh Conference of the...

Carbon sinks

Carbon sinks

Any processes, activities or mechanisms, including biomass, and especially forests and oceans, which have the property of removing a greenhouse gas, aerosols or precursors of greenhouse gases from the...