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Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.


Term of the day

joint Implementation
Similar mechanism to the Clean Development Mechanism (CDM), but involving carbon reduction projects in former eastern bloc countries, such as Russia. Instead of CERs (Certified Emission Reductions), projects are awarded AAUs (Assigned Amount Units). These refer to the amount of greenhouse gas eastern bloc countries were allowed to emit under the Kyoto Protocol. As the treaty takes its baseline year as 1990, before the collapse of the Soviet Union caused widespread industrial disruption, most of...