Environmental Engineering Reference
In-Depth Information
trades in credits called EUAs (European Union
Allowances).
CDM:
Clean Development Mechanism, one
of the Kyoto Protocol flexible mechanisms where
industrialised countries invest in projects in de-
veloping countries to reduce carbon and generate
tradable credits called CERs used for compliance
for emissions reduction targets.
CER:
Certified Emissions Reduction, the
credits produced by CDM projects which can be
used by industrialised nations to offset carbon
emissions at home and meet their Kyoto reduction
targets; at a discount to the EUAs traded under
the EU ETS.
Liberal Environmentalism:
Environmental
protection on the promotion and maintenance of
a liberal economic order; characterised by eco-
nomic interdependence between developed and
developing countries, management of the global
environment by industrialised powers through
complementary benefits.
Externality:
Impact on a third party that is
not directly involved in the transaction, in which
case prices do not reflect the full costs (negative
externality) or benefits (positive externality) in
production or consumption of a good or service.
Hegemony:
A concept promoted by the Ital-
ian philosopher Antonio Gramsci where a group
achieves both control and consent for control by
defining the discourse, embedding it in society,
and influencing the state through civil society.
Corporate Social Responsibility:
The man-
agement of the implications of corporate decision
making on society and environment.
