The Kyoto Protocol criteria have mandated companies with high CO2 emission levels to use CO2 credits, which has led to the emergence of CO2 emission trading and markets. In addition to the United Nations Framework Convention on Climate Change (UNFCCC) adopted at the Earth Summit in Rio de Janeiro in 1992, the Kyoto Protocol was adopted in Japan in 1997, and the Protocol came into effect in 2005.
According to a press release from the United Nations Environment Programme: "The Kyoto Protocol is an agreement that aims for developed countries to reduce their greenhouse gas emissions by 5.2% compared to 1990 levels." The goal is to reduce the 5-year average emission values of six greenhouse gases – carbon dioxide, methane, nitrous oxide, sulfur hexafluoride, HFCs, and PFCs – during the period from 2008 to 2012.
Among the countries that signed the Kyoto Protocol;
"CER" – Certified Emission Reductions
Certificates standardized by the CDM (Clean Development Mechanism) adapted, legalized, and regulated by member countries.
CER certificates are divided into two categories: those with a delivery guarantee and those without.
For countries that are not parties to the Kyoto Protocol – such as Turkey and the USA – the applicable;
"VER" – Voluntary Emission Reduction Certificates
Certificates for programs initiated through the Kyoto Protocol and regional efforts, which are voluntarily established and monitored.
Carbon Trading-Based Projects
Project Owners
Companies or Governments Implementing Projects for Greenhouse Gas Reduction:
Renewable Energy
Energy Efficiency
Methane Storage
Afforestation
Project activities that generate Emission Reductions (ERs)
Certificate Recipients
Governments, companies, or other organizations or individuals seeking to obtain VERs through their projects
Those who purchase CER certificates to meet legal obligations
Those who wish to voluntarily purchase VERs for public relations purposes
