Econergy Releases a Code of Best Practice for Verified Emission Reductions
October 2007 - Econergy International, a renewable Independent Power Producer and carbon mitigation project developer, announced a Code of Best Practice for generating Verified Emission Reductions (VERs). The Code for Best Practice defines minimum criteria which all projects generating VERs developed and/or marketed by Econergy will meet.
This issue is very timely considering that the market for carbon reduction projects has experienced significant growth in 2007, following more than $5 billion investment from 2006. There is public debate arising from the fact that there are no mandatory standards for VERs as there are for Certified Emission Reductions (CERs). Taking the first steps to address this concern, Econergy has laid out in its Code for Best Practice requirements that VERs marketed by the company will meet. Managing Director for Econergy’s Carbon Markets in Brazil, Francesca Cerchia explains, “We want to use our international experience in the regulated and voluntary markets to help support a credible, high-quality voluntary carbon market in the U.S.”
For more information, go to http://www.econergy.com/news.php and scroll down to Publications.