TZ1 Appointed Global Voluntary Carbon Standard (VCS) Registry

Carbon market operator, TZ1, has been appointed as a global registry for the Voluntary Carbon Standard (VCS) following an extensive selection process. This further evidences TZ1’s increasing status as a leader in environmental market registry provision.

Mark Franklin, CEO of TZ1 said, “TZ1 has been able to showcase its capabilities in a highly competitive process.”

In the voluntary carbon market, the need for quality registries is now well established.

“Buyers want to lessen their risks, whether provenance, traceability, processing costs or settlement risk. The TZ1 Registry provides a robust and resilient solution that addresses all these issues,” said Franklin.

New York based Paul Ezekiel, Managing Director, Fixed Income, Energy Trading -Environmental Markets, Credit Suisse agrees. " The voluntary carbon market needs credible, financial markets based registries such as the TZ1 Registry to enable companies to invest in this rapidly growing commodity."

VCS is recognized as the global leader of voluntary carbon standards. Projects that are approved under the VCS are issued with Voluntary Carbon Units (VCUs) which must be held in an authorised VCS Registry.

A VCS certification of a carbon credit provides assurance that the emission reduction project has been independently verified to the global benchmark standard. It ensures that carbon offsets purchased by businesses and consumers can be trusted and have real environmental benefits.

“VCS provides a robust certification standard, program framework and institutional structure for validation and verification of voluntary greenhouse gas emission reductions or removals. This innovative new registry system announced today will provide a cast iron environmental and financial guarantee for all VCS buyers from the investment banker in Manhattan, to the occasional flyer in London,” says Mark Kenber, Chair, VCS Association.

The voluntary carbon market is the highest growth sector of the carbon market globally, growing 240% in 2007, and commentators believe the market will continue to grow at a rapid pace.

"Voluntary Carbon Markets play a significant role in helping the world reduce carbon emissions. For these markets to be successful robust infrastructure in a quality carbon registry, such as TZ1 Registry, is essential," said Jonathan Shopley, Executive Director, Carbon Neutral Company, London.

The TZ1 Registry provides unique identification, transparency, authenticity and traceability of carbon credits from origin, and robust electronic transfer of ownership or retirement of credits when required.

Nick Armstrong, CEO of COzero based in Sydney said, "We are delighted that the TZ1 Registry has been appointed as a VCS certified registry. Our use of the TZ1 Registry is incredibly important as we help customers lower their carbon emissions, recognise the value of investing in carbon credits, and be satisfied that the TZ1 Registry provides proof of existence of their carbon assets through to retirement."

As important is the provision of robust legal infrastructure to ensure the ongoing integrity of voluntary carbon market operations.

"TZ1 recognises the importance placed in creating a credible carbon depository and the implementation of an appropriate legal framework," said Martijn Wilder, Partner, Baker & McKenzie.

The Registry electronically interfaces to other systems, such as those operated by exchanges, clearing houses, depositories and other financial institutions.

For further information about TZ1, Voluntary Markets and Carbon Registries, visit: http://www.tz1market.com

For further information about the Voluntary Carbon Standard visit: http://www.v-c-s.org

About the Voluntary Carbon Standard (VCS)

• The VCS is a global benchmark standard for project-based voluntary greenhouse gas emission reductions and removals. It offers confidence to buyers, sellers and other stakeholders in the growing voluntary carbon market.

• The VCS has been developed by The Climate Group, the International Emissions Trading Association (IETA), the World Business Council for Sustainable Development (WBCSD) and a range of business, government and non-government organizations.

• Rules for certification under the VCS will be as robust as those of the Kyoto Protocol’s Clean Development Mechanism (CDM), while attempting reduce the costs for participants.