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On 12 December 2012 CER prices reached another record low of 31 cents. [7] In recent times and in an attempt to highlight the drawbacks of carbon offsetting schemes, the term "emission reduction" or "certified emission reduction" is used to design common carbon offsets that may be certified by organizations such as Gold Standard or Verra. [8 ...
It is a reduction, avoidance, or removal of emissions to compensate for emissions released elsewhere. [14] [15] [16] One carbon credit represents an emission reduction or removal of one metric tonne of carbon dioxide or the equivalent amount of greenhouse gases that contribute equally to global warming (CO 2 e).
Voluntary Emission Reductions or Verified Emission Reductions (VERs) are a type of carbon offset exchanged in the voluntary or over-the-counter market for carbon credits. [1] Verified Emission Reductions are usually certified through a voluntary certification process.
These credits are largely traded in form of Certified Emission Reduction (CER), or Emission Reduction Unit (ERU). Voluntary Emissions Reduction (VER) have a similar function but have not registered / cannot be registered under the rules of the Kyoto Protocol.
In October 2012 Thomson Reuters Point Carbon calculated that the oversupply of units from the Clean Development Mechanism and Joint Implementation would be 1,400 million units for the period up to 2020 and Point Carbon predicted that Certified Emission Reduction (CER) prices would to drop from €2 to 50 cents. [32]
CER, however, is strictly about the consideration of environmental implications and protection within corporate strategy. The understanding of CER cannot be separated from CSR—both are interconnected and based on environmental protection. There are three major areas related to these two concepts—economic, environmental and social.
A Kyoto Certified Emission Reduction unit (CER), produced by a carbon project that has been certified by the UNFCCC Clean Development Mechanism Executive Board, or Emission Reduction Unit (ERU) certified by the Joint Implementation project's host country or by the Joint Implementation Supervisory Committee, are accepted by the EU as equivalent.
The carboNZero programme and CEMARS programme are the world’s first internationally accredited greenhouse gas (GHG) certification schemes under ISO 14065. They provide tools for organisations, products, services and events to measure and reduce their greenhouse gas emissions (otherwise known as carbon footprint), and optionally offset it.