Glossary

Intergovernmental Panel on Climate Change (IPCC). The Intergovernmental Panel on Climate Change (IPCC) is the United Nations body for assessing the science related to climate change. https://www.ipcc.ch/

AR6. During the sixth assessment cycle ( October 2015 to July 2023) the IPCC produced the Sixth Assessment Report (AR6) with contributions by its three Working Groups and a Synthesis Report, three Special Reports, and a refinement to its latest Methodology Report. https://www.ipcc.ch/assessment-report/ar6/

International Energy Agency (IEA). The IEA provides authoritative analysis, data, policy recommendations and solutions to ensure energy security and help the world transition to clean energy. https://www.iea.org/

IEA NZE. The International Energy Agency Net Zero Emissions by 2050 report published in 2021 and updated in 2023. https://www.iea.org/reports/net-zero-roadmap-a-global-pathway-to-keep-the-15-0c-goal-in-reach.

Carbon Capture and Sequestration (CCS). CCS is commonly referred to as any form of capture of carbon from the air. However, from an industry perspective CCS specifically refers to the capture of carbon at the point of source, such as at a power plant, as opposed to from ambient air. The carbon is capture in a higher concentration at the point of source, relative to ambient air, and then injected deep underground in appropriate geological storage space. It is significantly less expensive than CDR. https://19january2017snapshot.epa.gov/climatechange/carbon-dioxide-capture-and-sequestration-overview_.html

Carbon Dioxide Removal (CDR) CDR is commonly referred to as any form of capture of carbon from the air. However, from an industry perspective CDR specifically refers to the capture of carbon from ambient air where CO2 is at a lower concentration than at the point of source, such as a power plant. CDR technology includes active and passive direct-air-capture (DAC), mineralization, weathering, and other related technologies. It is significantly more expensive than CCS.

Permanent Carbon Credits (PCC). PCC is commonly referred to one ton of CO2 that is captured and verified to qualify as a carbon credit. Permanent refers to the long-term duration of the carbon capture, meaning permanent, not to escape back into the environment.

However, permanent carbon credits specifically refer to credits that are a result of the use of CCS or point of source removal of CO2. They prevent CO2 from being emitted in the atmosphere as opposed of removing CO2 from the atmosphere. They typically are significantly less expensive than permanent carbon offsets.

Permanent Carbon Offsets (PCO). PCO is commonly referred to one ton of CO2 that is captured and verified to qualify as a carbon credit. Permanent refers to the long-term duration of the carbon capture, meaning permanent, not to escape back into the environment.

Howver, permanent carbon offsets specifically refer to a carbon credit that is the result of the use of CDR (typically DAC) that removes CO2 from the atmosphere as opposed to preventing the release of CO2 from a power plant or other process. The offset, removes CO2 that was released. They are significantly more expensive than PCC.

Carbon Credits (CC).

Carbon Budget

Carbon Registry