CnerG Glossary

Company Types on CnerG Platform

Corporate Buyer

An entity that is procuring renewable electricity and/or carbon credits for its operations and may be seeking to make claim to its use.

Energy Generator/Supplier

An entity that is generating clean energy.

Investor

An entity that is investing in renewable or clean energy projects.

Trader/Broker

An entity that buys and sells clean energy products but does not seek to make claims to its use.

Project Developer

An entity that is developing carbon credit and other renewable energy projects

Registry

An entity that tracks the ownership and transfer of clean energy credits, such as renewable energy certificates (RECs) and carbon credits.

Frequently Used Terms

EACs

Stand for Energy Attribute Certificates and are also known as RECs in the United States. Same as RECs, EACs are tradable and verifiable instruments that represent the environmental attributes of electricity generated from renewable energy sources.

I-REC

A type of REC and stands for International REC; mostly purchased by entities with electricity use in Asia, LATAM, and Africa.

GOs

Stands for Guarantees of Origin, and it is a EAC that is used for the European Union.

Carbon Removal Credit

A tradable instrument that represents the removal of one metric ton of CO2e from the atmosphere.

CORSIA

Stands for the Carbon Offsetting and Reduction Scheme for International Aviation. It is a global initiative developed by the International Civil Aviation Organization (ICAO), a specialized agency of the United Nations. CORSIA aims to mitigate the greenhouse gas emissions generated by international aviation by implementing measures to offset and reduce these emissions.

Carbon Dioxide Equivalent (CO2e)

CO2e is a standardized unit used to express the global warming potential of various greenhouse gases in terms of the equivalent amount of carbon dioxide that would have the same warming effect over a specified timeframe, typically used in measuring and comparing emissions reductions in carbon credit projects.

GWP

Stands for Global Warming Potential. It is a measure of the relative ability of a greenhouse gas to trap heat in the atmosphere.

UNFCCC

Stands for United Nations Framework Convention on Climate Change. It is an international environmental treaty that was adopted on 9 May 1992 at the United Nations Conference on Environment and Development (UNCED), also known as the Earth Summit, in Rio de Janeiro, Brazil. The UNFCCC entered into force on 21 March 1994 and has been ratified by 197 parties.

RECs

Stand for Renewable Energy Certificates, they are tradable certificates that represent the generation of one megawatt-hour (MWh) of renewable energy. When an entity buys an REC, they are essentially buying the right to claim that they have generated one MWh of renewable energy.

US-REC

A type of REC and stands for United States REC; mostly purchased by entities with electricity use in the US and Canada.

Carbon Offset Credit

A tradable instrument that represents the reduction of one metric ton of carbon dioxide-equivalent (CO2e) emissions.

REDD

Stands for Reducing Emissions from Deforestation and Forest Degradation, and it is a global initiative aimed at mitigating climate change by incentivizing the conservation and sustainable management of forests to reduce carbon dioxide emissions.

Megawatt-hour (MWh)

A MWh is a unit of energy measurement equivalent to one million watt-hours, commonly used to quantify the electricity production or consumption associated with EACs and RECs.

CCB

Stands for Climate, Community, and Biodiversity Standards and is a framework and certification program that assesses and promotes land-based projects'ability to simultaneously address climate change, support local communities, and conserve biodiversity through sustainable practices.

CDM

Stands for Climate Development Mechanism. It is a market-based mechanism under the UNFCCC that allows developed countries to invest in projects that reduce greenhouse gas emissions in developing countries.

CnerG Platform Transaction Terms

Request for Proposal (RFPs)

Either a Buy or Sell requests used by companies to solicit proposals from potential vendors or buyers in the marketplace.

Proposal

Proposal refers to an offer sent by a buyer or a seller to an open RFP on the market. The Proposal is not binding unless the recipient “Executes” the proposal.

Sign-off on a Contract (Sign-off)

When one party Signs-off on a contract, that party is formally agreeing to honor the terms and conditions of the contract. When you sign off on a contract, you are legally bound to its terms. This means that you are obligated to fulfill your obligations under the contract, such as paying the agreed-upon price or providing the agreed-upon services.

Delivery

Delivery refers to the transfer of the ownership of the Clean Energy Products from the seller to the buyer. This can be done electronically or by a redemption statement.

Executing a Proposal (Execute Trade)

When a proposal recipient Executes a proposal, the recipient is confirming that it would like to proceed further in the transaction flow. In CnerG marketplace, once a recipient Executes a proposal, the transaction proceeds to the Contract stage. Executing a Proposal, does not mean that the transaction or a deal is confirmed.