NOTE: In the future, with the entry into force of the National Contributions (NDC) of the Paris Climate Agreement, Gold Standard will also propose certified emission reduction declarations so that organizations can fund emission reductions in places that need climate finance but are not participating or cannot participate in emissions trading systems. Gold Standard Verified Emission Reductions (VERs) for Voluntary Climate Change In early 2002, Platte River addressed the Colorado Department of Public Health and Environment`s Air Pollution Department on the formulation of a voluntary emission reduction agreement (VERA) for Rawhide Unit One. The agreement provided for the adoption of significantly stricter NOx and SO2 emission limits in exchange for an exemption from new « government » emission reduction requirements for a period of legal insurance of up to 15 years. The VERA was completed in September 2002. ERPs are often ratified between buyers and intermediaries representing community groups. In these cases, the AGREEMENT between the seller and community members is often less clear, although the ERPA is a binding contract between the buyer and the intermediary. It is therefore important to ensure that any agreement between the project participants and the mediator is separated and well understood by all parties. The Kyoto Protocol, signed in Kyoto, Japan, in 1997 by 192 industrialized countries, is the closest to the working global agreement to combat climate change. Countries that ratify the Kyoto Protocol will be allocated maximum CO2 emissions. If more than the assigned limit is issued, a penalty is imposed on the injured country in the form of a lower emission limit for the next period. However, if a country wants to emit more greenhouse gases than its permitted limit (without penalty), it can participate in carbon trading with an ERPA. The emission reduction contract between the purchaser and seller of emission credits is an important document for developers of co2 reduction projects. It identifies responsibilities, rights and obligations in managing project risks.
In addition, the terms and conditions of the project, including price, volume and the emission reduction supply plan, are defined. Reducing the purpose of emissions under the voluntary emissions system will ensure the quality of your reductions and ensure that they are generated as credible, negotiable and recognizable offsets or credits.