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. 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 CO
2 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
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Voluntary Carbon Standard
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CDM Gold Standard
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Certified Emission Reduction
References
Climate change policy
Carbon finance
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