Quiz #1

What is a carbon credit?

One metric ton of carbon dioxide or greenhouse gas.
A certified reduction, avoidance or sequestration equivalent to one metric ton of carbon dioxide or GHG.
A carbon offset.

What is a carbon offset?

One metric ton of carbon dioxide or GHG.
A certified reduction, avoidance or sequestration equivalent to one metric ton of carbon dioxide or GHG.
The purchase of a carbon credit.
None of the above.

Which of the following statements is correct?

The Voluntary Carbon Markets is also known as cap-and-trade schemes.
The Compliance Carbon Market is also accessible to individuals who want to offset their emissions.
Carbon credits price in both Voluntary and Compliance Carbon Markets are fixed and does not vary with any factor.
None of the above

Which of the following statements does reflect the importance of carbon markets?

What is the central aim of Paris Agreement?

To collectively reduce emissions by at least 5% below 1990 levels.
To create flexible mechanisms to help countries achieve their emissions reductions targets.
To keep the global temperature rise this century well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius.

Which of the following schemes covers a higher percentage from the overall GHG emissions?

When was the Kyoto Protocol adopted?

What are the flexible market mechanisms from Kyoto Protocol?

Clean Development Mechanism and Joint Implementation.
Clean Development Implementation and Joint Mechanism.
Clean Development Mechanism, Joint Implementation and International Emissions Trading.

What is the main difference between the flexibility mechanisms?

CMD ceased operations after the end of the 2nd commitment period of Kyoto Protocol, while JI ended with the 2st commitment period.
JI projects can only be hosted by developed countries (Parties from Annex I), while CDM was between an Annex I and Annex B country.
JI did not establish a verification process for the projects registered under that scheme.

Which of the following statements is correct?

Article 6.2 aims to establish the Supervisory Body, a global carbon trading mechanism between the Parties.
Article 6.4 enables countries to voluntarily trade with other Parties emission reductions and removals through bilateral agreements
Corresponding Adjustments are an accounting tool to avoid double-counting of carbon credits under the Article 6 of Paris Agreement.

Introduction to Carbon Markets for Project Developers