VOLUNTARY CARBON MARKET (VCM)

The segment of the carbon market for carbon offset transactions outside of government-related regulatory schemes i.e. offsets purchased by organisations wishing to offset their carbon on a voluntary basis.

VOLUNTARY ENVIRONMENTAL STEWARDSHIP PROGRAM

An ADEQ program that provides recognition and incentives for organizations that have a good history of environmental compliance and endeavor to go above and beyond environmental law requirements. The VESP program was established by state of Arizona House Bill 2799 in 2012 and consists of platinum, gold, silver and bronze levels of recognition.

VOLUNTARY REMEDIATION PROGRAM

An ADEQ program through which property owners, prospective purchasers and other interested parties can investigate or clean up a contaminated site with a single point of contact at the agency. The agency reviews the work and provides a closure document for successful site remediation that is accepted by all relevant ADEQ programs.

VORTEX

Revolving mass of water that forms a whirlpool.

VULNERABILITY

The propensity or predisposition to be adversely affected. Vulnerability encompasses a variety of concepts and elements including sensitivity or susceptibility to harm and lack of capacity to cope and adapt. See also Exposure, Hazard and Risk.

WAFERBOARD

A board made of randomly oriented wood chips glued together under high temperature and pressure.

WALK-THROUGH INSPECTION

A Walk-Through Inspection is the inspection of the property just before closing to ensure it is still in the same condition, no new damage has been done, and all fixtures included in the sale are still present.

WAREHOUSING

Warehousing is the process of assembling mortgages for sale on the secondary mortgage market.

WARRANTY DEED

A deed containing express covenants as to good title and right to possession.

WASTE

Materials that are not prime products (that is, products produced for the market), for which the generator has no further use in terms of his/her own purposes of production, transformation, or consumption, and of which he/she wishes to dispose. Wastes may be generated during the extraction of raw materials, the processing of raw materials into […]