Carbon Registry Bolstered by Credit Transfer System

November 2, 2009

Email this story Print this post Add your comments

The Voluntary Carbon Standard registry system is now able to transfer carbon emission offsets across different registries, after several months of delays due to technical reasons, according to the Voluntary Carbon Standard Association, reports Reuters.

Eliminating the need for a central clearing house, this is the first time independent registries have a framework to communicate directly with each other and to transfer units from one registry to another, reports Reuters.

As a result, transferring offsets called Voluntary Carbon Units (VCUs) across different registries should boost liquidity in the voluntary carbon market, reports Reuters.

It should also encourage more interest from the United States as efforts are made to advance climate change legislation, which could include a total of up to 2 billion metric tons of offsets a year to be used in a cap-and-trade scheme from domestic and international sources, according to the news agency.

Carbon credits totaling 123 million metric tons, valued at $705 million, were transacted in the global voluntary carbon market in 2008, according to New Energy Finance and Ecosystem Marketplace estimates, reports Reuters.

However, more than 50 percent of those offset credits were originally targeted for the United Nation’s Clean Development Mechanism (CDM), but were delayed by bottlenecks in the pipeline process.

Email this story Print this post Add your comments

Advertisers

Enhance Sustainability. Improve Profitability.

Learn how at the SAP Sustainability Resource Center. >>

Unclear about the EPA's new GHG Rule?

Learn how it could affect your business. >>

EPA mandatory emissions reporting starts Jan 1st

CSA Standards can help your organization get ready for compliance. Find out how. >>

Survey Results: Product Environmental Compliance Best Practices

How to achieve compliance at a significantly lower cost. Download the full report. >>

Join the Discussion

Recent Daily News [ see all ]

11/20/2009
11/19/2009
11/18/2009

Charts [ see all ]

European Paper Industry Cuts CO2 Emissions by 42% since 1990

S. America Takes Most Urgent View of Copenhagen Talks

Nike Tops Annual Climate Action Scores

Oceans May Trap more Carbon than Forests

Jobs

View All Jobs >> Post a Job >>

Comments and Discussions

Trade Association on Trade Group on EPA Chemical Regs: ‘If Everything is a Priority, Then Nothing is a Priority’
"Seriously… that..."

Gary Markowitz on Supermarkets Tackle Emissions Reductions, Fuel Efficiency
"Supermarkets waste over 10 percent of their energy through improper..."

peter in ireland on Ontario May Follow California’s Lead on TV Energy Efficiency
"Governor Schwarzenegger is shooting himself in the foot! 1...."

Environmental Leader on S. America Takes Most Urgent View of Copenhagen Talks
"The survey respondents (the PDF report mentions 4,000 respondents in 38..."

Jake on UPS Trying New Hydraulic Hybrid Trucks
"A point of clarification: the Reuters press release referenced herein reports that 20 UPS will purchase..."

Custom Organic Shirts on S. America Takes Most Urgent View of Copenhagen Talks
"90% of North Americans believe it is urgent to get a global climate..."

peter dublin on California City’s Green Building Ordinance Applies to Commercial Buildings
"Why energy efficiebnt regulation on buildings –..."

Environmental Leader