A VER is an emission reduction that has been measured and calculated as the result of a project activity. The emission reduction has then been verified by an approved independent third party to ensure the following key points:

• The project methodology has been followed correctly

• The emission reductions have not been over stated and are true and accurate

• The project was environmentally additional

• The project was financially additional

Each VER is issued with a certificate, including a unique serial number, by the verifier at the time of verification. VERs can be traded globally on the voluntary carbon markets. VERs cannot be used to satisfy commitments to the Kyoto Protocol.