Voluntary Emission Reduction
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Voluntary Emission Reductions or Verified Emission Reductions (VERs) are a type of
carbon offset A carbon offset is a reduction or removal of emissions of carbon dioxide or other greenhouse gases made in order to compensate for emissions made elsewhere. Offsets are measured in tonnes of carbon dioxide-equivalent (CO2e). One ton of carbon ...
exchanged in the voluntary or over-the-counter market for
carbon credits A carbon credit is a generic term for any tradable certificate or permit representing the right to emit a set amount of carbon dioxide or the equivalent amount of a different greenhouse gas (tCO2e). Carbon credits and carbon markets are a compo ...
. 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 The Kyoto Protocol was an international treaty which extended the 1992 United Nations Framework Convention on Climate Change (UNFCCC) that commits state parties to reduce greenhouse gas emissions, based on the scientific consensus that (par ...
. One VER is equivalent to 1 tonne of CO2 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

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CEB VER CEB VER is a quality standard for voluntary carbon offset industry created by Commodity Exchange Bratislava. Based on the Kyoto Protocol's Clean Development Mechanism The Clean Development Mechanism (CDM) is a United Nations-run carbon offset sche ...
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Voluntary Carbon Standard The Verified Carbon Standard (VCS), or Verra, formerly the Voluntary Carbon Standard, is a standard for certifying carbon emissions reductions. VCS is administered by Verra, a 501(c)(3) organization. History In 2005, carbon markets investment ...
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CDM Gold Standard The Gold Standard (GS), or Gold Standard for the Global Goals, is a standard and logo certification mark program for non-governmental emission reductions projects in the Clean Development Mechanism (CDM), thVoluntary Carbon Marketand other clim ...
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Certified Emission Reduction Certified Emission Reductions (CERs) are a type of emissions unit (or carbon credits) issued by the Clean Development Mechanism (CDM) Executive Board for emission reductions achieved by CDM projects and verified by a DOE (Designated Operational E ...


References

Climate change policy Carbon finance {{climate-change-stub