Hot Air
Excess emission allowances that have been allocated but do not reflect realistic baseline emissions (emission reductions not additional) because of an economic collapse or declined production for reasons not directly related to efforts to curb emissions (e.g. in Eastern European Countries around 1990).
"Glossary", Eco securities Limited. "Challenges for a business case for high-biodiversity REDD Projects and Schemes."- A Report for the Secretariat of the CBD, February 2009, Version1.2 http://www.illegallogging.info/uploads/ecosecurities REDD.pdf
Refers to the concern that some governments will be able to meet their targets for greenhouse-gas emissions under the Kyoto Protocol with minimal effort and could then flood the market with emissions credits, reducing the incentive for other countries to cut their own domestic emissions.
