carbon capture and storage (CCS)

a group of technologies used to reduce CO2 emissions from large CO2 sources (such as fossil fuel or biomass power generation) and industrial processes (such as cement, iron and steel and fertilizer manufacturing). Following capture, CO2 is transported and stored in specifically selected and characterised geological formations over 1 000 m below the ground. Aspects of the CCS chain have been used in industry for many decades; however, the complete process has been demonstrated at a commercial scale at only five locations around the world.

carbon footprint

the full quantity of greenhouse gases that can be attributed to an individual, a plant, a company, a product or a whole economy.

carbon market

the set of organised and bilateral transactions by which countries trade credits received for greenhouse-gas emission reductions. The market is used to comply with emission goals, or to voluntarily offset a country’s own emissions. The carbon market was launched by the creation of three mechanisms under the Kyoto Protocol: emissions trading, across developed countries; the Clean Development Mechanism, based on projects in developing countries; and Joint Implementation, based on projects in developed countries.

Clean Development Mechanism (CDM)

the mechanism under the Kyoto Protocol by which a developing country can earn certified emission reductions (CERs) for a project that reduces emissions (e.g. carbon trading).

climate change

the change in climate (i.e. regional temperature, precipitation, extreme weather, etc.) caused by increase in the greenhouse effect. (see global warming).

Climate Change Experts Group (CCXG)

The OECD and IEA jointly act as Secretariat for this ad hoc group of climate negotiators from member countries.

coal

Coal refers to a variety of solid, combustible, sedimentary, organic rocks that are composed mainly of carbon and varying amounts of other components such as hydrogen, oxygen, sulphur and moisture. Coal is formed from vegetation that has been consolidated between other rock strata and altered by the combined effects of pressure and heat over millions of years. Many different classifications of coal are used around the world, reflecting a broad range of ages, compositions and properties.

coalbed methane (CBD)

methane found in coal seams that is a source of unconventional natural gas.

coal-to-liquids

the transformation of coal into liquid hydrocarbons. It can be achieved through either coal gasification into syngas (a mixture of hydrogen and carbon monoxide), combined with Fischer-Tropsch or methanol-to-gasoline synthesis to produce liquid fuels, or through the less developed direct-coal liquefaction technologies in which coal is directly reacted with hydrogen.

coking coal

hard coal of a quality that allows the production of coke suitable to support a blast furnace charge.

coke oven coke

the solid product obtained from the carbonisation of coal, principally coking coal, at high temperature. Semi-coke, the solid product obtained from the carbonisation of coal at low temperatures, is also included, along with coke and semi-coke.

concentrating solar  power (CSP)

devices that concentrate energy from the sun’s rays to heat a receiver to high temperatures. This heat is transformed first into mechanical energy (by turbines or other engines) and then into electricity. (See also Photovoltaic).

condensates

condensates are liquid hydrocarbon mixtures recovered from associated or non-associated gas reservoirs. They are composed of C5 and higher carbon number hydrocarbons and normally have an API between 50° and 85°.

Market situation in which prices in succeeding delivery months are progressively higher than in the nearest delivery month; the opposite of backwardation.

co-generation (or combined heat and power)

the simultaneous generation of both electricity and heat from the same fuel, for useful purposes. The fuel varies greatly and can include coal, biomass, natural gas, nuclear material, the sun or the heat stored in the earth.

corporate debt

the liabilities held by a company used to fund investments.