The Bank of New York, a global leader in securities servicing, has created a global registrar and custody service to facilitate trading of voluntary carbon units (VCUs), an outgrowth of the Kyoto Protocol calling for the reduction of greenhouse gas emissions. The new registrar and custody service is a critical component in the development of global standards and processes for the voluntary carbon offset market, allowing participants who wish to actively transfer VCUs to do so via a centralized team within the Bank's corporate trust services division. The register will provide a centralized, secure and paperless environment to support a wide spectrum of participants in the voluntary emissions reduction market.
See original Business Wire article

1. John McKay19/06/2006 07:20:50 PM

Under the international protocol, the host government has authority to 'certify' the GHG credits. In Canada, our government has decided not to try to meet the target, and has no interest in buying credits from abroad, and appears to stand in the way of my selling tens of thousands of credits for efficiency upgrades that our team has been creating in buildings. Is this backward?...standing in the way of contributing?

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