The IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, today announced its intention to launch the first global meta-registry aimed at providing transparency and efficient tracking, accounting and trade lifecycle management of carbon credits.
As part of this launch, the Carbon Meta-Registry Advisory Board has been formed with leading experts from the public and private sectors and NGOs. The Advisory Board is tasked to ensure the IHS Markit Meta-Registry delivers on its objectives and meets the wider industry needs. The Advisory Board at launch includes representatives from:
• Programs/Standards: Global Carbon Council, Gold Standard, REDD.plus, UK Woodland
Carbon Code and Verra
• NGOs/Industry associations: Conservation International, Environmental Defense Fund
and the International Emissions Trading Association (IETA)
• Private sector: Bank of America, Bluesource, CBL Markets, Chevron, Goldman Sachs,
Hartree Partners, Microsoft and Temasek
The World Bank will participate on the Advisory Board as an observer. The Meta-Registry complements the World Bank's Climate Warehouse initiative to create a public infrastructure for tracking and reporting of carbon assets.
Leveraging distributed ledger technology, the IHS Markit Meta-Registry is designed to seamlessly connect independent carbon markets and registry systems around the world, reducing the risk that credits are counted or claimed twice in different markets or programs. The IHS Markit Meta-Registry will provide a global online ledger enabling access to information on projects and credits across jurisdictions, programs and standards.
“Carbon markets are a vital mechanism that allow companies and countries to meet their net-zero emissions commitments” - Kathy Benini, head of Environmental Solutions, IHS Markit.
The IHS Markit Meta-Registry is expected to launch in early 2021 with initial member programs including Global Carbon Council, Gold Standard, UK Woodland Carbon Code, UK Peatland Code and Verra. Additional participants will be added over the course of the year.