Voluntary Emission Reduction (VER) - Definition, glossary, details

Voluntary Emission Reduction also known as Verified Emission Reduction is a type of carbon offset exchanged in the ‘over the counter’ market. Under this scheme, industries/organizations voluntarily compensate for their emissions and contribute to mitigating climate change.VER’s are created by projects that are verified outside Kyoto protocol and hence is not a part of the protocol. These are certified using a voluntary certification process. The three main drivers for demand in this voluntary market are  Firstly, as company’s marketing strategy linked to CSR As profit making mechanism, these companies build a portfolio to speculate in the market. Thirdly, as a valuable learning exercise for forward-looking companies in business sectors which anticipate being included in a future compliance regime, and which wish to develop a competitive advantage through familiarity with carbon credit market mechanisms.

Other Terms

Vattenfall Schwarze Pumpe project Voluntary Carbon Standard (VCS)

Power Plant CCS - Glossary

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