Voluntary Emission (VER’s) Reduction & Verified Carbon Units (VCU’s)
Voluntary Emission Reduction (VER’s) and Verified Carbon Units (VCU’s) represent the reduction or abatement of the equivalent of 1 tonne of CO2 under a number of carbon offset initiatives.
Abatement is achieved by reducing or avoiding emissions, for example through capture and destruction of methane emissions from landfill or livestock manure or by removing carbon from the atmosphere and storing it in soil or trees, for example, by growing a forest or reducing tillage on a farm in a way that increases soil carbon.
The Australian Government introduced the National Carbon Offset Standard (NCOS) on 1 July 2010. The NCOS provides national consistency and consumer confidence in the voluntary carbon market.