 glossary of terms used in the carbon credit landowner enrollment document
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ADDITIONALITY — The quantity of XFOs issued to an individual property enrolled in MACED’s program based on the net annual increase in stored carbon (expressed in metric tons of CO2 equivalence) over and above the property’s initial baseline inventory.
AGGREGATION FEE — Fee charged by MACED and deducted from each enrollee’s payment received from the sale of XFOs to help cover program operating costs, data management, and computer modeling.
AGGREGATOR — A CCX-authorized trader that can sell XFOs through the CCX Trading Platform.
CCX TRANSACTION FEE — Fee charged by CCX and deducted from each enrollee’s payment received from the sale of XFOs through the CCX Trading Platform.
CERTIFICATION — An evaluation provided by a nationally-recognized, natural resources-affiliated organization that confirms forests are managed sustainably on a long-term basis and not converted to other, competing uses.
CONSERVATION EASEMENT — A legally enforceable transfer of usage rights for the purposes of conserving land and prohibiting real estate development.
EXCHANGE FOREST OFFSET CREDIT (XFO) — A unit of carbon measure representing one hundred metric tons of CO2 and identified by its annual vintage.
FOREST CARBON BASELINE — The quantity of carbon (expressed in metric tons CO2 equivalent) stored on an individual property at the time it has completed all requirements necessary for enrollment in MACED’s program.
INVENTORY — Quantitative method used to estimate the actual volume, composition, and market value of standing timber.
LONG-TERM COMMITMENT — Evidence (e.g. conservation easement or forest certification) presented by all property owners enrolled in MACED’s program indicating their commitment to maintaining their property’s status as forested.
NON-COMPLIANCE — Any landowner found to be noncompliant with the Terms and Conditions contained in MACED’s XFO Sales Contract shall return a quantity of XFOs equal to the total quantity of XFOs found to be in non-compliance, or present payment in an amount equal to the cost of acquiring such XFO replacements.
OFFSET ISSUANCE — CCX-eligible properties represented by an Aggregator will be issued XFOs (quantified as metric tons of CO2 equivalence) on the basis of tonnage realized during the years 2006, 2007, 2008, 2009 and 2010.
PERIODIC CARBON QUANTIFICATION — The process MACED will use to calculate additionality/year on each property enrolled in its program.
POOLED PROJECTS — The total quantity of individual properties MACED will represent as a CCX-approved Aggregator.
REGISTRY ACCOUNT — An account assigned by CCX to an Aggregator which contains all the exchange forest offset credits (XFOs) issued to individual properties the Aggregator represents.
TRADING AUTHORITY — MACED shall have sole authority to: 1) access the CCX Trading Platform and the Registry Account holding the XFOs it represents; 2) execute sales on the CCX electronic trading platform on behalf of property owners; and 3) distribute XFO sales proceeds to individual property owners.
VERIFIER — A technical expert approved by CCX who verifies the amount of XFOs an Aggregator calculates is present on an individual property.
VINTAGE — The vintage of an XFO is defined as the first year the designated XFO may be used for compliance with the CCX emission reduction schedule.
WORKING FORESTS — Forested land harvested in accordance with a MACED-approved forest stewardship plan, forest certification, and a current forest inventory.
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