Carbon units3.

(1)

For the purposes of Part 1 of the Climate Change Act 2008 the following are carbon units—

(a)

assigned amount units;

(b)

European Union allowances;

(c)

certified emission reductions;

(d)

emission reduction units; and

(e)

removal units.

(2)

Each carbon unit has a value of 1 tonne of carbon dioxide equivalent.

(3)

In this regulation—

“certified emission reduction” means a unit issued under Article 12 of the Kyoto Protocol and the decisions adopted under the UNFCCC or the Kyoto Protocol; and

“emission reduction unit” means a unit issued under Article 6 of the Kyoto Protocol and the decisions adopted under the UNFCCC or the Kyoto Protocol.