Voluntary Emission Reductions or Verified Emission Reductions (VERs) are a type of

carbon offset Carbon offsetting is a carbon trading mechanism that enables entities to compensate for offset greenhouse gas emissions by investing in projects that reduce, avoid, or remove emissions elsewhere. When an entity invests in a carbon offsetting ...

exchanged in the voluntary or over-the-counter market for

carbon credits Carbon offsetting is a carbon trading mechanism that enables entities to compensate for offset greenhouse gas emissions by investing in projects that reduce, avoid, or remove emissions elsewhere. When an entity invests in a carbon offsetting p ...

. 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 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 global warming is oc ...

. 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.

References

Carbon finance {{climate-change-stub

See also

References