What is the difference between VERs and CERs?
VER stands for Voluntary Emissions Reductions or Verified Emissions Reductions. Both refer to the emerging market for carbon credits/offsets outside the Kyoto Protocol compliance regime. VERs are from emission reductions generated by projects that are assessed and verified by objective third party mechanisms other than the UN Framework Convention on Climate Change. This voluntary market may at present be smaller and less liquid than the compliance market, however, general market opinion is that the wider scope of the voluntary market, and growth led by the private sector, not public policy, means that it has a strong potential to outstrip the mature market size of the compliance regime. A CER is a permit granted by the UN Clean Development Mechanism Executive Board (CDM). Each CER represents one metric ton of CO2e. CERs were designed for use to meet all or part of an Annex B emission reduction commitment, but can also be used to meet voluntary emission reduction goals. CER’s or Certifi
