The NCOC shall have the exclusive right to market Carbon Sequestration Units (CSU's)1 from Carbon Sequestration Projects developed on the following real property:


A Carbon Sequestration Unit (CSU) is defined as 1 metric ton (2204 lbs.) of carbon dioxide sequestered in soil or woody biomass. See NCOC Planning Handbook.

http://uscattlemen.org/US Cattlemen Association_files/US Cat...

Who and What is NCOC? Types of Land Use Categories Needed
National Carbon Offset Coalition, Inc. (NCOC)
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NCOC Partnerships

In 1996, a consortium of conservation, and economic development organizations became interested in the potential environmental and economic opportunities presented by addressing global climate change through a market based carbon sequestration initiative. The group ultimately organized an incorporated coalition known as the National Carbon Offset Coalition

The NCOC is designed to assist landowners in planning carbon sequestration activities and documenting the resulting Carbon Sequestration Unit™ (CSU) in a manner that adheres to national standards and protocols, and meets the needs of potential buyers.

The term “Carbon Sequestration Unit™” is used to represent an amount of organic carbon sequestered in the wood or soil that is equivalent to the removal of one metric ton of CO2 from the atmosphere.

http://www.energyfuture.mt.gov/presentations/Ted Dodge - Tri...

Currently, there are six exchanges trading in UNFCCC related carbon credits: the Chicago Climate Exchange (until 2010[25]), European Climate Exchange, NASDAQ OMX Commodities Europe, PowerNext, Commodity Exchange Bratislava and the European Energy Exchange. NASDAQ OMX Commodities Europe listed a contract to trade offsets generated by a CDM carbon project called Certified Emission Reductions.

Many companies now engage in emissions abatement, offsetting, and sequestration programs to generate credits that can be sold on one of the exchanges. At least one private electronic market has been established in 2008: CantorCO2e.[26] Carbon credits at Commodity Exchange Bratislava are traded at special platform called Carbon place

https://en.wikipedia.org/wiki/Emissions_trading

A tree can absorb as much as 48 pounds of carbon dioxide per year and can sequester 1 ton of carbon dioxide by the time it reaches 40 years old.

https://www.quora.com/How-many-trees-do-I-need-to-plant-to-o...

While some mandatory emission reduction schemes exclude forest projects, these projects flourish in the voluntary markets. A major criticism concerns the imprecise nature of GHG sequestration quantification methodologies for forestry projects. However, others note the community co-benefits that forestry projects foster. Project types in the voluntary market range from avoided deforestation, afforestation/reforestation, industrial gas sequestration, increased energy efficiency, fuel switching, methane capture from coal plants and livestock, and even renewable energy. Renewable Energy Certificates (RECs) sold on the voluntary market are quite controversial due to additionality concerns.[44] Industrial Gas projects receive criticism because such projects only apply to large industrial plants that already have high fixed costs. Siphoning off industrial gas for sequestration is considered picking the low hanging fruit; which is why credits generated from industrial gas projects are the cheapest in the voluntary market.

https://en.wikipedia.org/wiki/Carbon_footprint

The foundation of the global carbon market is the Kyoto Protocol, which established legally binding targets for the developed world countries that ratified the protocol. To help meet their targets, countries can use the Kyoto ‘flexible mechanisms’: Clean Development Mechanism (CDM), Joint Implementation (JI) or Emissions Trading. These mechanisms allow for the trading of ‘carbon credits’, or emissions reduction/sequestration units, which can be used for compliance purposes by parties that have legally binding targets (Carbon Trust, 2006).

The possibility of using trading as a cost-effective way to achieve emissions reduction targets has encouraged nations and groups of nations to develop their own domestic trading mechanisms to help them meet their Kyoto targets. Among these schemes the biggest is the European Union Emissions Trading Scheme (EU ETS), in operation since 1st January 2005.

As well as the internationally regulated compliance market, a parallel but separate voluntary carbon market has emerged. Players in this market engage voluntarily in emissions reduction schemes because they have either set their own reduction targets or wish to reduce or net off their carbon footprint. Strategic reasons why companies buy offsets include addressing climate change, generating goodwill amongst customers and employees, learning by doing, or Corporate Social Responsibility (CSR) interest or obligations. The voluntary market includes the so-called ‘retail’ carbon market, targeted at companies and individuals that usually have relatively small direct emissions, and wish to reduce their carbon footprint through ‘offsetting’.

The voluntary market has a number of different schemes. However, the emission reduction credits from the voluntary market cannot be traded on the compliance market. In the compliance market most schemes are governed by the Kyoto Protocol, creating emissions reduction units which are transferable. There is no such overarching framework in the voluntary market.
http://publications.naturalengland.org.uk/file/60078

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Note added at 4 days (2016-07-05 23:23:12 GMT)
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European Union climate policy should give more consideration to the important role of sequestration of GHG emissions. It is crucial that UE takes action focused on increasing sequestration potential and allows proper accounting of forest sequestration. GHG emission sequestration should be treated in the same manner as other emission reduction activities. This approach brings the benefits for neutralization of GHG emission comparable to emission reduction technologies (e.g. CCS) and at the same time creates measurable environmental profits, being in tune with sustainable development principles and economic effectiveness (lower emission reduction cost).

To allow for a connection of the LULUCF sector with the EU ETS through the use of potential sequestration units by the EU ETS participants, it will be necessary to make some indispensable changes in the EU ETS directive. Apart from EUA allowances, the only acceptable units within the EU ETS (indirectly) are the CER units (Certified Emission Reduction) stemming from CDM projects (Clean Development Mechanism) and ERU units (Emission Reduction Units) resulting from JI projects (Joint Implementation). Solutions for introducing the abovementioned units into the EU ETS market could be a basis for similar action applied to the sequestration units.
http://tinyurl.com/hhk2ro8

We focus on recent progress in reforming the role of forests and other land use in the EU climate policy framework. EU inclusion of LULUCF (Land Use, Land-Use Change and Forestry) in the climate policy framework still lags international developments, remaining at odds even with the United Nations Framework Convention on Climate Change's (UNFCCC) Kyoto framework.

(...)

The EU has long resisted the inclusion of LULUCF in the climate policy framework. To-date, LULUCF-generated carbon credits still cannot be traded in the EU Emission Trading Scheme (EU ETS). And domestic, forest-based carbon credits further remain subject to substantial limitations resulting from the UNFCCC and Kyoto-based carbon accounting framework. Further, unlike other Clean Development Mechanism (CDM) credits, forest-based credits generated through the CDM cannot be traded in the EU ETS.
http://tinyurl.com/jgr4x6b

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Note added at 4 days (2016-07-06 00:04:19 GMT)
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My take on the whole thing, based on all this information:

CO2-credits worden afgegeven voor emissiereducties die zijn behaald door middel van maatregelen/initiatieven/projecten op het gebied van bijv. CO2-opslag (sequestration), duurzame energieproductie, energiebesparing of duurzaam transport.

De 'sequestration units' hebben zo te zien specifiek betrekking op behaalde emissiereducties door middel van CO2-opslag (vastleggen van CO2 in bossen, (landbouw)bodems etc.).

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Note added at 4 days (2016-07-06 21:47:37 GMT)
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Correctie: (carbon) sequestration > niet: CO2-opslag > maar: CO2-vastlegging / koolstofvastlegging ('sinks')