Joint Implementation
Moura Costa identified the absence of independent verification services as one of the limiting factors to the growth of the carbon market at that time, and in 1996 he developed the first carbon offset verification service worldwide, which was licensed to the Swiss certification company SGS (Société Générale de Surveillance). The first client for this certification service was the Costa Rican National GHG Mitigation Programme, developed by OCIC (Costa Rican Office on Joint Implementation). After the launch of the Kyoto Protocol (see below), independent certification of carbon emission reductions became a mandatory requirement under the rules of the Clean Development Mechanism (i.e., the carbon credits of this mechanism are called CERs, meaning Certified Emission Reductions).