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Macroeconomic costs
Usually measured as changes in Gross Domestic Product or growth
in Gross Domestic Product, or as loss of “welfare” or loss
of consumption.
Marginal cost pricing
The pricing of commercial goods and services such that the price equals
the additional cost that arises from the expansion of production by one additional
unit.
Market barriers
In the context of mitigation of climate change,
conditions that prevent or impede the diffusion of cost-effective
technologies or practices that would mitigate greenhouse gas emissions.
Market-based incentives
Measures intended to use price mechanisms (e.g., taxes and tradable permits)
to reduce greenhouse gas emissions.
Market equilibrium
The point at which demand for goods and services equals the supply; often described
in terms of the level of prices, determined in a competitive market, that “clears”
the market.
Market penetration
Market penetration is the share of a given market that is provided by a particular
good or service at a given time.
Market potential
The portion of the economic potential for greenhouse gas emissions reductions
or energy efficiency improvements that could be achieved under
forecast market conditions, assuming no new policies and measures.
See also economic potential, socio-economic potential, and
technological potential.
Methane (CH4)
Methane is one of the six greenhouse gases to be
mitigated under the Kyoto Protocol.
Methane recovery
Method by which methane emissions, for example from coal mines
or waste sites, are captured and then reused either as a fuel, or for some other
economic purpose (e.g., reinjection in oil or gas reserves).
Meeting of the Parties (to the Kyoto Protocol) (MoP)
Conference of the Parties to the United Nations Framework
Convention on Climate Change serving as the Meeting of the parties to
the Kyoto Protocol. It is the supreme body of the Kyoto Protocol.
Mitigation
An anthropogenic intervention to reduce the sources or enhance
the sinks of greenhouse gases. See also biological
options, geo-engineering.
Mitigative capacity
The social, political, and economic structures and conditions that are required
for effective mitigation.
Montreal Protocol
The Montreal Protocol on Substances that Deplete the Ozone Layer was adopted
in Montreal in 1987, and subsequently adjusted and amended in London (1990),
Copenhagen (1992), Vienna (1995), Montreal (1997) and Beijing (1999). It controls
the consumption and production of chlorine- and bromine-containing chemicals
that destroy stratospheric ozone, such as chlorofluorocarbons,
methyl chloroform, carbon tetrachloride, and many others.
MoP
See Meeting of the Parties (to the Kyoto Protocol).
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