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Like a Certified Emission Reduction (CER), a VER or a Voluntary Emission Reduction is also a tradable commodity and refers to reduction of one ton of greenhouse gas. The only difference between a CER and a VER is that while CERs are generated according to standards and requirements of the Kyoto Protocol and UNFCCC, VERs are independently verified by a third party according to criteria that confirm that the emission reductions are real, measurable and credible. These independent auditors provide written assurance of the integrity of the emission reductions. VERs are frequently used by a rising number of companies, mainly as a part of their corporate social responsibility and also for the marketing and promotional value to their business by building a ‘green image’. The desire to establish more sustainable practices in the face of global warming is also driving the Voluntary Markets. Developing a project in the VER route is quicker and relatively inexpensive than the CDM route. For Voluntary Market GCPL offers the following Services:
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