Financial Times - Lexiconhttp://lexicon.ft.comTerm of the Day from the Financial Times Lexiconen(PICS-1.1 "http://www.classify.org/safesurf/" L gen true for "http://www.ft.com/" r (SS~~000 1))&copy The Financial Times Ltd 2018 'FT' and 'Financial Times' are trademarks of The Financial Times Ltd. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.client.support@ft.comTue, 16 Jun 2009 01:42:55 +0100Sun, 16 Dec 2018 15:30:18 GMTNewspapers15http://lexicon.ft.comhttp://lexicon.ft.comFinancial Timeshttp://im.media.ft.com/m/img/rss/RSS_Default_Image.gifhttp://lexicon.ft.comjoint Implementationhttp://lexicon.ft.com/Term?term=joint ImplementationSimilar mechanism to the Clean Development Mechanism (CDM), but involving carbon reduction projects in former eastern bloc countries, such as Russia. Instead of <A href="http://lexicon.ft.com/ft/glossary/term.asp?t=CERs">CERs</A> (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 these countries have Kyoto targets that allow them to increase their carbon emissions substantially, but still sell any shortfall in the form of AAUs. These credits are sometimes known as “hot air” because they do not result in carbon emission reductions.  Fri, 04 Dec 2009 13:38:22 +0000Similar mechanism to the Clean Development Mechanism (CDM), but involving carbon reduction projects in former eastern bloc countries, such as Russia. Instead of &lt;A href=&quot;http://lexicon.ft.com/ft/glossary/term.asp?t=CERs&quot;&gt;CERs&lt;/A&gt; (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 these countries have Kyoto targets that allow them to increase their carbon emissions substantially, but still sell any shortfall in the form of AAUs. These credits are sometimes known as “hot air” because they do not result in carbon emission reductions.&nbsp; [ref url=&quot;&quot;]Fiona Harvey, Environment Correspondent, Financial Times[/ref]