VERP 2 – Currently in Development
By becoming a VERP 2 Member a business will commit to develop an advanced understanding of its GHG emissions and the processes needed for effective GHG emissions management. The business will be listed on the FEX Climate website along with its public statement of commitment.
VERP 2 Members will be required to demonstrate that they have achieved the VERP 2 criteria outlined in the Protocol which are designed to be "Self Assessable".
VERP 2 is a planning phase where businesses are required to undertake some considerable planning before addressing the requirements of VERP 3 and VERP4.
The first step in managing your carbon assets and liabilities is to develop an understanding of the processes and activities that cause greenhouse gases to be emitted into the atmosphere. For some businesses, this will be a relatively simple process that is similar to work that has been done by others in the past. For other businesses, particularly in the mining and industrial sector, gaining an understanding of your greenhouse gas emissions can be complex.
As part of the process of gaining an understanding about your carbon assets and liabilities, it will be important to investigate the current and emerging regulation that could require your business to participate in national reporting and trading mechanisms. One of the key aims of the FEX Climate Voluntary Protocol for Emissions Reductions is to prepare businesses for the changes in government regulation and help them manage their liabilities and make the most of their current and emerging carbon assets.
Community concern has recently shifted and both consumers and regulators are responding to this shift by seeking opportunities to reduce their carbon footprint. Businesses that are able to demonstrate that they are addressing their impact on the climate are likely to gain a competitive advantage over other businesses in their sector.
On the following pages, the six core strategies for VERP 2 will be discussed. These strategies will guide businesses through the detail of planning a comprehensive approach to managing greenhouse emissions for their organisation.