Dictionary

Climate Reserve Tonne or CRT

The unit of offset credits used by the Climate Action Reserve. One Climate Reserve Tonne is equal to one metric ton of GHG reduced/sequestered.

Listed

A project is considered “listed” once the Reserve has satisfactorily reviewed all project submittal forms and tentatively accepted the project into the Reserve. The project will now appear in the public interface of the Reserve system.

Project developer

An organization or individual that develops projects for the purpose of generating emission reductions or removals. In the Reserve software system, project developers may be issued CRTs for the verified emission reductions/removals that their projects achieve. They can also transfer and manage CRTs.

Project protocol

A Reserve-developed document that contains the eligibility rules, GHG assessment boundary, quantification methodologies, monitoring and reporting parameters, etc. for a specific project type. Project protocols are akin to “methodologies” in other offset programs.

Reduction

A verified decrease in GHG emissions caused by a project, as measured against an appropriate forward-looking estimate of baseline emissions for the project.

Registered

A project is considered “registered” when the project has been verified by an approved third-party verifier, submitted by the project developer to the Reserve for final approval, and approved by the Reserve.

Removal

A verified increase in carbon stocks caused by a forest project, as measured against an appropriate forward-looking estimate of baseline carbon stocks for the project.

Retired

When CRTs are transferred to a retirement account in the Reserve System, they are considered retired. Retirement accounts are permanent and locked to prevent a retired CRT from being transferred again. CRTs are retired when they have been used to offset an equivalent tonne of emissions or have been removed from further transactions on behalf of the environment.

Submitted

A project is considered “submitted” when all of the appropriate forms have been uploaded and submitted to Reserve software, and the project developer has paid the project listing fee.

Trader/Broker/Retailer

An organization or individual that transfers and manages CRTs in the Reserve system, but does not develop its own projects.

Verified

A project is considered “verified” when the project verifier has submitted the project’s Verification Opinion and the Verification Report into the Reserve system.

Verification Body

An organization or company that has been accredited by ANSI to ISO 14065:2007 standards or approved by the Reserve to perform GHG verification activities for specific project protocols.

Verifier

An individual that is employed by or subcontracted to an ANSI accredited or Reserve approved verification body and is qualified to provide verification services for specific project protocols.