Glossary
The Western Balkans
The Western Balkans is a designation used (most commonly by the European Union) for a region which includes Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia.
Green Agenda for the Western Balkans, GAWB
The Green Agenda for the Western Balkans is a plan to make the region more environmentally friendly and sustainable. It focuses on five main areas:
- Climate Action: Reducing greenhouse gas emissions and preparing for climate change impacts.
- Climate Action: Reducing greenhouse gas emissions and preparing for climate change impacts.
- Circular Economy: Promoting recycling and reducing waste to create a more sustainable economic system.
Balkans Renewable Energy Program, BREP
The Balkan Renewable Energy Program's aims to “green” economies of the Western Balkans countries, diversifying their energy mix, and supporting their path toward joining the European Union.
European Union, EU
The European Union (EU) is a supranational political and economic union of 27 member states that are located primarily in Europe.
Economic and Investment Plan, EIP
The Economic and Investment Plan (EIP) for the Western Balkans, initiated by the European Commission, is a comprehensive strategy aimed at supporting the long-term economic recovery and regional integration of the Western Balkans. The plan is designed to facilitate these countries’ convergence with the EU and expedite their EU accession process.
Carbon Border Adjustment Mechanism, CABM
The EU’s Carbon Border Adjustment Mechanism (CBAM) is the EU's tool to put a fair price on the carbon emitted during the production of carbon intensive goods that are entering the EU, and to encourage cleaner industrial production in non-EU countries.
Western Balkans Investment Framework, WBIF
The Western Balkans Investment Framework (WBIF) is a joint initiative of the EU, financial institutions, bilateral donors and beneficiaries, aimed at enhancing harmonisation and cooperation in investments for the socio-economic development of the region and contributing to the European perspective of the Western Balkans.
National Energy and Climate Plans, NCEP
The national energy and climate plans (NECPs) were introduced by the Regulation on the governance of the energy union and climate action (EU)2018/1999, agreed as part of the Clean energy for all Europeans package which was adopted in 2019
The national plans outline how the EU countries intend to address the 5 dimensions of the energy union:
- Decarbonisation
- Energy efficiency
- energy security
- Internal energy market
- Research, innovation and competitiveness
Nationally Determined Contributions, NDC
The nationally determined contributions (NDCs) are commitments that countries make to reduce their greenhouse gas emissions as part of climate change mitigation. These commitments include the necessary policies and measures for achieving the global targets set out in the Paris Agreement.
European Commission
The European Commission proposes laws, makes sure EU laws are properly applied, and manages EU spending programmes.
Energy Community
The Energy Community is an international organisation bringing together the EU and a number of non-EU neighbouring countries, to create an integrated regional energy market on the basis of a legally binding framework.
Carbon pricing
Carbon pricing is an instrument that captures the external costs of greenhouse gas (GHG) emissions—the costs of emissions that the public pays for, such as damage to crops, health care costs from heat waves and droughts, and loss of property from flooding and sea level rise—and ties them to their sources through a price, usually in the form of a price on the carbon dioxide (CO2) emitted.
Carbon Dioxide Emissions, CO2
CO2 emissions refer to the release of carbon dioxide (CO2) gas into the atmosphere. This gas is primarily produced by burning fossil fuels like coal, oil, and natural gas for energy and transportation, as well as by certain industrial processes. CO2 emissions are a major contributor to the greenhouse effect, which leads to global warming and climate change.
United Nations Framework Convention on Climate Change, UNFCCC
The United Nations Framework Convention on Climate Change (UNFCCC) is an international treaty established to address the global problem of climate change. Adopted in 1992 at the Earth Summit in Rio de Janeiro, it sets out a framework for action aimed at stabilizing greenhouse gas concentrations in the atmosphere to prevent dangerous human interference with the climate system.
The UNFCCC is the foundation for major climate agreements like the Kyoto Protocol and the Paris Agreement, which set specific targets and actions for reducing global greenhouse gas emissions.
Energy Community Treaty
The Energy Community Treaty is an international agreement aimed at extending the European Union’s internal energy market to Southeast Europe and beyond. Signed in October 2005, the treaty establishes a framework for cooperation in the field of energy policy between the EU and non-EU countries in the region, including the Western Balkans.
Paris Agreement
The Paris Agreement is an international treaty adopted in 2015 at the COP21 conference in Paris, under the United Nations Framework Convention on Climate Change (UNFCCC). It aims to address climate change by reducing global greenhouse gas emissions and limiting global warming to well below 2 degrees Celsius above pre-industrial levels, while pursuing efforts to limit the temperature increase to 1.5 degrees Celsius.
Urban Research Institute, URI
The Urban Research Institute (URI) is a non-governmental organization (NGO) in Albania focused on promoting sustainable urban development and improving living conditions in urban areas. Established in 1998, URI engages in research, planning, and the implementation of projects related to urban development, environmental protection, and social inclusion.
Green Climate Fund, GCF
As the world’s largest climate fund, GCF accelerates transformative climate action in developing countries through a country-owned partnership approach and use of flexible financing solutions and climate investment expertise.
United Nations Development Programme, UNDP
The United Nations Development Programme (UNDP) is a global development network that operates under the auspices of the United Nations. Its primary mission is to help countries eliminate poverty, achieve sustainable development, and build resilient systems to respond to crises. Established in 1965, the UNDP works in nearly 170 countries and territories, providing policy advice, technical support, and advocacy.
European Investment Bank, EIB
The European Investment Bank (EIB) is the European Union’s (EU) financial institution, established to support the economic policies and objectives of the EU by providing long-term financing for various projects. Founded in 1958, the EIB is owned by the EU member states and operates as a nonprofit entity, reinvesting its profits back into its operations.
UNDP’s Climate Promise project
UNDP’s Climate Promise project is a global initiative aimed at supporting countries in enhancing their Nationally Determined Contributions (NDCs) under the Paris Agreement. The NDCs are national plans that outline how countries intend to reduce greenhouse gas emissions and adapt to the impacts of climate change.
Emissions Trading System, ETS
The Emissions Trading System (ETS), often referred to as cap-and-trade, is a market-based approach to controlling pollution by providing economic incentives for achieving reductions in the emissions of pollutants. It is commonly used to address greenhouse gas emissions and combat climate change.
European Union Emissions Trading System, EU ETS
The European Union Emissions Trading System (EU ETS) is a cornerstone of the EU’s policy to combat climate change and its key tool for reducing greenhouse gas emissions cost-effectively. Launched in 2005, the EU ETS operates on a cap-and-trade principle and is the world’s first major carbon market.
Voluntary Carbon Markets, VCM
A Voluntary Carbon Market (VCM) refers to a marketplace where carbon credits are bought and sold on a voluntary basis, as opposed to being mandated by government regulations or compliance schemes. VCMs enable businesses, organizations, and individuals to offset their greenhouse gas emissions by purchasing carbon credits generated from projects that reduce, remove, or avoid carbon emissions.
Compliance Carbon Markets, CCM
A compliance carbon market, also known as a regulated carbon market, is a market where carbon credits are traded under government-mandated regulations to meet legally binding greenhouse gas (GHG) emission reduction targets. These markets are established by national or regional governments and are a key component of policies aimed at reducing carbon emissions to combat climate change.
European Bank for Reconstruction and Development, EBRD
The European Bank for Reconstruction and Development (EBRD) is an international financial institution established in 1991 to support the development of market-oriented economies and promote private and entrepreneurial initiatives in countries committed to democracy.
Greenhouse Gas Emissions, GHG
GHG emissions, or greenhouse gas emissions, refer to the release of gases that trap heat in the Earth’s atmosphere, leading to the greenhouse effect and global warming. These gases can come from natural processes and human activities.
Sustainable Development Goals, SDGs
The Sustainable Development Goals (SDGs) are a collection of 17 global goals established by the United Nations in 2015 as part of the 2030 Agenda for Sustainable Development. They are designed to be a blueprint for achieving a better and more sustainable future for all, addressing global challenges such as poverty, inequality, climate change, environmental degradation, peace, and justice. Each goal has specific targets and indicators to measure progress.
Regional Cooperation Council, RCC
The Regional Cooperation Council (RCC) is an organization that promotes regional cooperation and European integration in Southeast Europe. It was established in 2008 as the successor to the Stability Pact for Southeastern Europe, which was created in 1999 to foster peace, democracy, and stability in the region following the conflicts of the 1990s.
EBRD’s Just Transition Initiative (JTI)
The European Bank for Reconstruction and Development (EBRD)’s Just Transition Initiative (JTI) is a program designed to ensure that the transition to a green and low-carbon economy is fair and inclusive. The initiative aims to address the socio-economic impacts of this transition on workers, communities, and regions that are heavily dependent on fossil fuels and carbon-intensive industries.
Sustainable Development Goals, SDGs
The Sustainable Development Goals (SDGs) are a collection of 17 global goals established by the United Nations in 2015 as part of the 2030 Agenda for Sustainable Development. They are designed to be a blueprint for achieving a better and more sustainable future for all, addressing global challenges such as poverty, inequality, climate change, environmental degradation, peace, and justice. Each goal has specific targets and indicators to measure progress.
Sustainable Development Goals, SDGs
The Sustainable Development Goals (SDGs) are a collection of 17 global goals established by the United Nations in 2015 as part of the 2030 Agenda for Sustainable Development. They are designed to be a blueprint for achieving a better and more sustainable future for all, addressing global challenges such as poverty, inequality, climate change, environmental degradation, peace, and justice. Each goal has specific targets and indicators to measure progress.
Sofia Declaration
The Sofia Declaration is a key political commitment made by the leaders of the Western Balkans to advance the region’s environmental agenda and move towards a greener, more sustainable future. It was signed on November 10, 2020, during the Berlin Process Summit in Sofia, Bulgaria.
Regional Energy Efficiency Programme for the Western Balkans, REEP Plus
The Regional Energy Efficiency Programme for the Western Balkans - REEP Plus is an initiative designed to improve energy efficiency and promote sustainable energy practices in the Western Balkans region. It is supported by the European Union and implemented by the European Bank for Reconstruction and Development (EBRD) in cooperation with the Energy Community Secretariat.
Energy Community's Just Transition Initiative
The Energy Community’s Just Transition Initiative is a program aimed at ensuring that the transition to a low-carbon and sustainable energy system in the Energy Community Contracting Parties is fair and inclusive. This initiative addresses the socio-economic impacts of moving away from coal and other carbon-intensive industries, with a particular focus on supporting workers, communities, and regions that are most affected by this transition.
Instrument for Pre-Accession Assistance, IPA
The Instrument for Pre-Accession Assistance (IPA) is a funding mechanism established by the European Union (EU) to support countries that are in the process of becoming EU member states. The IPA provides financial and technical assistance to candidate countries and potential candidates, helping them align with EU standards and policies, and preparing them for membership.
Kreditanstalt für Wiederaufbau ("Credit Institute for Reconstruction"), KfW
KfW is one of the world’s leading promotional banks. KfW has been committed to improving economic, social and environmental living conditions across the globe on behalf of the Federal Republic of Germany and the federal states since 1948.
Monitoring, reporting, and verification, MRV
Monitoring, Reporting, and Verification (MRV) is a crucial framework used in carbon markets to ensure transparency, accuracy, and accountability of data related to greenhouse gas (GHG) emissions and reductions. MRV is integral to implementing and tracking the progress of climate policies, assess compliance with emission reduction targets, and facilitate the trading of carbon credits.
CO2 Equivalent, CO2e
CO2 Equivalent (CO2e) is a standard unit for measuring carbon footprints. It quantifies the impact of different greenhouse gases (GHGs) in terms of the amount of CO2 that would have the same global warming effect.
RES Target
Renewable energy source (RES) targets, are policy goals set by the European Union (EU) to increase the share of energy produced from renewable sources—such as wind, solar, hydro, and biomass—in the overall energy mix of member states.