Official carbon credits issued as part of the UN's Clean Development Mechanism (CDM) carbon offset initiative.
CDM-approved projects are issued with Certified Emission Reductions (CERs) based on the extent to which the project delivers independently verified cuts in greenhouse gas emissions.
Each carbon credit is equivalent to one metric ton of CO2 and can be sold by the project operator to provide it with an additional revenue stream.
CERs are acquired by governments and businesses in industrialised countries' and can be used to count towards their emissions target, often providing them with a more cost effective alternative to cutting their own emissions directly.
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