Types
of Carbon
Credits
Trading on European Carbon Exchange (ECX) began in April 2005, when
futures contracts launched on European carbon dioxide emissions, known
as EU Allowances, with options on EUAs following in October 2006.
Futures and Options on Koyto compliant Carbon Emission Reductions (CER)
were introduced in 2008, further cementing ECX's position as the
industry benchmark for carbon trading globally.
In addition to Kyoto complaint Clean Development Mechanism (CDM) and
Joint Implementation (JI) produced carbon credits that can be traded on
the European Climate Exchange (ECX), the table below outlines a range of
Verified Emission Reductions (VER) programs.
|
Name of Program |
Regional Scope |
Type of Program |
Start of Program |
|
Voluntary Cap and Trade Systems |
|||
|
Chicago Climate Exchange (CCX) |
International (originally US) |
Voluntary cap-and-trade with offsets as unlimited compliance mechanism |
Launched in 2002 |
|
Voluntary GHG Reduction Programs |
|||
|
California Climate Action Reserve (CCAR) |
US (originally CA) |
Non-profit GHG registry created by CA state legislation in 2001; Full carbon offset standard for VERs |
Active since 2002 |
|
Voluntary Standards for Offset Projects & Retailers |
|||
|
Gold Standard (GS) |
International |
Full carbon offset standard for CERs and VERs with focus on co-benefits. Reforestation not compliant |
Launched in 2003 |
|
Voluntary Carbon Standard 2007 (VCS) |
International |
Full carbon offset standard for VERs |
Launched in 2007 |
|
VER+ |
International |
Full carbon offset standard for VERs |
Launched in 2007 |
|
Climate, Community and Biodiversity Standards (CCBS) |
International |
Project Development Standard for bio-sequestration projects with focus on co-benefits |
Launched in 2005 |
|
Green-e Climate |
US focus |
Voluntary certification program for offset retailers |
Launched in 2008 |
