Verified Emission Reduction
In voluntary carbon markets, activities that reduce GHGs produce verified emission reductions that can be sold to companies or individuals wishing to voluntarily reduce their carbon footprints.
Today a range of technologies exist which have the capabilities to produce clean energy, improve energy efficiency or reduce the impact that industry has on the environment. Despite the environmental benefits these technologies provide, they often require significant investment and expertise to implement, or may face obstacles to their implementation. For instance, such technologies may be new, have little or no track record, and thus could represent an added risk for the project proponents. For these reasons, innovative and clean technologies are often overlooked in favour of cheaper, less environmentally friendly options. However, if it can be proven that real emission reductions are achieved through the implementation of these technologies, then emission reduction can be claimed, and the sale of these credits can add an additional revenue stream and therefore push the project through to completion.