Certified Emission Reduction (CER)
Certified Emission Reduction (CER) refers to credits issued under the Clean Development Mechanism (CDM) and represents a reduction of one metric tonne of CO2e. The CDM was created by the Kyoto Protocol. It allows an industralised country with an emission-reduction or emission-limitation commitment under the Protocol to implement emission-reduction projects in a developing country. CDM provides a process for registering projects in developing countries and issuing credits from those projects. CERs were purchased by entities under the European Union’s Emissions Trading Scheme (ETS) to offset emissions. Click here to visit the CDM Registry.
Since these credits are also generated through an internationally recognised process, they are also sold in the voluntary carbon market because buyers trust their legitimacy.
CLP has a significant number of legacy CERs in Mainland China and India.
Verified Emission Reduction (VER)
Verified Emission Reduction (VER) refers to credits issued by the Verified Carbon Standard (VCS) and represents a reduction of one metric tonne of CO2e. The VCS is a robust, global standard for the approval of credible voluntary carbon credits. VCS is currently the most widely known and chosen voluntary standard. In order for a project to qualify for VCS, several criteria must be met. Abatement must have occurred, and it should go beyond business-as-usual activities. It should be measurable and permanent. Furthermore, the findings of the project must be independently verified. VCS is also compatible with the CDM. Click here to visit the VCS registry.