In voluntary carbon markets, activities that reduce GHGs produce Verified Emission Reductions (VERs), that can be sold to companies or individuals wishing to voluntarily reduce their impact on the environment. Purchasing VERs can be an effective means of offsetting the part of a company’s carbon footprint where it is not in a position to reduce its emissions directly.

The existence of a voluntary market for emission reductions can support smaller-scale, sometimes village-level activities - which cannot withstand the costs of compliance with Kyoto (certifiers, validators, consultants etc.) but deliver real emission reductions and significant sustainable development benefits.

 

In order to ensure that buyers are purchasing a real emission reduction, VERs must be calculated according to a VER Standard. There are several VER Standards currently being used throughout the world and each sets out different rules governing the project types that are acceptable and way emission reductions are measured. Standards are important because they provide assurance for buyers of VERs.