carbon budget

Short definition from Wiktionary

Noun

1. 1
   The maximum cumulative amount of anthropogenic carbon dioxide emissions compatible with a given global-warming target (e.g., 1.5 °C), for a stated probability and from a stated baseline date.
2. 2
   An emissions cap or allocation set for a period (year, multi-year, etc.) for a country, organisation, sector, or project so as to follow a target trajectory.
3. 3
   A planning document detailing such caps and their trajectory (e.g., a university’s “2024–2028 carbon budget”).