Voluntary Emissions Reduction
Encyclopedia
Voluntary Emission Reductions or Verified Emission Reductions (VERs) are a type of carbon offset
exchanged in the voluntary or 'Over-the-Counter' (OTC) market for carbon credits. Verified Emission Reductions are usually certified through a voluntary certification process.
Verified Emission Reductions are usually created by projects which have been verified outside of the Kyoto Protocol
. One VER is equivalent to 1 tonne of CO2e emissions. Through these schemes, industries and individuals voluntarily compensate for their emissions or provide an additional contribution to mitigating climate change.
VERs may be developed and calculated in compliance with one of several VER standards. These set out rules defining how emission reductions are measured. Standards provide assurance for buyers of VERs. At a minimum, all VERs should be verified by an independent third-party.
Carbon offset
A carbon offset is a reduction in emissions of carbon dioxide or greenhouse gases made in order to compensate for or to offset an emission made elsewhere....
exchanged in the voluntary or 'Over-the-Counter' (OTC) market for carbon credits. Verified Emission Reductions are usually certified through a voluntary certification process.
Verified Emission Reductions are usually created by projects which have been verified outside of the Kyoto Protocol
Kyoto Protocol
The Kyoto Protocol is a protocol to the United Nations Framework Convention on Climate Change , aimed at fighting global warming...
. One VER is equivalent to 1 tonne of CO2e emissions. Through these schemes, industries and individuals voluntarily compensate for their emissions or provide an additional contribution to mitigating climate change.
VERs may be developed and calculated in compliance with one of several VER standards. These set out rules defining how emission reductions are measured. Standards provide assurance for buyers of VERs. At a minimum, all VERs should be verified by an independent third-party.
See also
- Voluntary Carbon StandardVoluntary Carbon StandardThe Verified Carbon Standard formerly the Voluntary Carbon Standard is a quality standard for voluntary carbon offset industry. Based on the Kyoto Protocol's Clean Development Mechanism, VCS establishes criteria for validating, measuring, and monitoring carbon offset projects....
- CDM Gold StandardCDM Gold StandardThe Gold Standard is the world's only independent standard for creating high-quality emission reductions projects in the Clean Development Mechanism Joint Implementation and Voluntary Carbon Market. It was designed to ensure that carbon credits are not only real and verifiable but that they make...
- Certified Emission ReductionCertified Emission ReductionCertified Emission Reductions are a type of emissions unit issued by the Clean Development Mechanism Executive Board for emission reductions achieved by CDM projects and verified by a DOE under the rules of the Kyoto Protocol...