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3.—(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.