REEEP Introduces Quality Benchmark for Carbon Offset Markets

The Renewable Energy and Energy Efficiency Partnership (REEEP) joined forces with the Gold Standard to clarify the voluntary carbon-offsetting marketplace. REEEP and the Gold Standard have been working to eliminate the irregularities from the voluntary carbon offset market.

Verified Emissions Reductions (VERs), carbon credits generated by renewable energy and energy efficiency projects for purchase by anyone or organization wishing to make their activities carbon neutral, are different from the compliance-driven Kyoto Protocol regulated Certified Emissions Reduction (CER) marketplace. That already has a firmly established set of guidelines for producing carbon credits from clean energy in the developing world. “The voluntary offset market is nascent and full of inconsistencies,” said Michael Schlup, Executive Director of The Gold Standard. “It’s very important when considering VERs not only the quality of the offset, but also how the offset was calculated and when exactly can you say you’re carbon neutral.” “We are launching the Gold Standard VER (GS VER) in order to increase liquidity into the marketplace. People haven’t been buying so many VERs due to varying quality and unclear project deliverables,” said Dr. Marianne Osterkorn, International Director of REEEP.
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