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The TZ1 VCS Registry is now live, with the official launch of the Voluntary Carbon Standard Association (VCSA) global registry system.
Lisa Ashford, Global Head of Voluntary and New Markets, Ecosecurities, said, “The VCS Registry opening is a significant milestone for the voluntary carbon market. In order to grow, this market needs credible, financial markets based registries such as the TZ1 Registry.
”Mark Kenber, Chair, Voluntary Carbon Standard Association agrees, “The VCS and its new registry system provides the market with much needed transparency and robustness. The VCSA is pleased to work with the highly respected TZ1 Registry to continue to build voluntary carbon market confidence.”
“The voluntary market is real now. The TZ1 Registry creates stability, transparency and credibility resulting in increased momentum. This is the right time to stimulate a potentially very big market,” says Renat Heuberger, Managing Partner, South Pole Asset Management, Zurich Switzerland.
TZ1 Registry CEO, Helen Robinson said, “We believe that the TZ1 Registry’s unique interoperability with other financial markets infrastructure will be increasingly important as this market develops further. This is a key consideration for our customers when they are evaluating the value proposition of a registry.”
The TZ1 Registry is a meta-registry, designed so that TZ1 VCS Registry participants can not only view and manage their VCUs, but their entire carbon asset portfolio and other environmental market commodities they hold.
In the last 18 months TZ1 has been appointed as global registry partner by the majority of carbon and other environmental market standards including the Voluntary Carbon Standard, Social Carbon, The Climate, Community & Biodiversity Alliance (CCBA) and Plan Vivo. Last year TZ1 Registry also launched the first biodiversity registry service starting with the appointment as global registry partner for Malua Wildlife Habitat Conservation Bank.
TZ1 VCS Registry enables customers to connect to exchanges, clearing houses, depositories and other financial institutions. Last month TZ1 Registry announced a partnership with World Energy Solutions, Inc. (TSX: XWE), an operator of online exchanges for energy and green commodities, to expedite listing TZ1-registered projects on the World Green Exchange®, one of North America’s largest primary carbon marketplaces.
Voluntary Carbon Units (VCUs) are credits which have been verified against the Voluntary Carbon Standard (VCS) criteria and are the global benchmark for project-based voluntary greenhouse gas emission reductions and removals. A VCU represents one tonne of greenhouse gas reduction or removal.
The TZ1 VCS Registry service begins with VCU issuance and unique identifier allocation and also provides the ability for customers to make holding inquiries, transfer ownership and retire VCUs permanently as and when required by the owner.
The rigorous verification criteria of the VCS, provides assurance to buyers that credits have had a real greenhouse gas emission reduction impact. Once verified, the TZ1 VCS Registry provides a full and transparent electronic management service for VCU owners.
“The recent emergence of robust verification standards and registries have been acknowledged as positively contributing to the maturation of the global Voluntary Carbon Market. We believe that the launch of the VCS Registry today is another important step forward,” said Robinson.
For more information about the TZ1 VCS Registry please visit: http://www.vcsglobalregistry.com
View the full press release from VCS at the following link: http://www.v-c-s.org
