Climate Change Bill [HL]

That is difficult because I can explain some but not all the units. While I am reading out these descriptions, perhaps I can get one on the EU. Under Kyoto, the assigned amount unit is issued by all developed countries which have targets; the emissions reduction unit is issued under joint implementation which relates to emissions projects in developed countries; the certified emissions reduction is issued under the clean development mechanism which relates to emission projects in developing countries; and the removal unit relates to land use, land-use change and forestry activities in developed countries. That explains the four units under Kyoto. Under the EU Emissions Trading Scheme, my note says simply ““EU allowance””. I would imagine that the noble Earl might be able to explain this better than I can.