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Global Environment Facility, or GEF A joint funding programmed established by developed countries to meet their obligations under various international environmental treaties. GEF serves as the interim financial mechanism for the UNFCCC, in particular to cover the cost of reporting by non-Annex I countries. It provides funds to complement traditional development assistance by covering the additional or ‘agreed incremental costs’ incurred by non-Annex I countries, when a national, regional or global development project also targets global environmental objectives such as those which address biodiversity. Global Warming The view that the earth’s temperature is being increased, in part due to emissions of greenhouse gases associated with human activities such as burning fossil fuels, biomass burning, cement manufacture, cow and sheep rearing, deforestation and other land-use changes. Global Warming Potential, or GWP A time dependent index used to compare the radiative forcing, on a mass basis, of an impulse of a specific greenhouse gas relative to that of CO2. Gases included in the Kyoto Protocol are weighted in the first commitment period according to their GWP over a 100-year time horizon as published in the 1995 Second Assessment Report of the IPCC. In that report, a kilogram of methane, for example has a radiative force of about 21 times greater than that of a kilogram of CO2.The GWP of CO2 is defined as 1, thus methane has a GWP of 21 over the 100-year time horizon. Grandfathering A method used to allocate emissions credits to companies or other legal entities based on their emissions levels at a certain point in the past (such as 1990).Those companies which have reduced their emissions since that point in the past (e.g. through efficiency gains or by shutting down operations) could potentially be rewarded under this process of allocation. Companies established after the baseline date (and therefore having zero emissions at that time) would not receive any emissions credits if this method of allocation is used alone. Alternative emissions credit allocation methods include auctioning which would be similar to emissions taxation, and free allocation based on negotiation. Greenhouse Effect The trapping of heat by naturally occurring heat-retaining atmospheric gases (water vapor, carbon dioxide, nitrous oxide, methane and ozone) that keeps the earth about 30°C (60°F) warmer than if these gases did not exist. 14PDF Image | Organisations in Different Renewables
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