Voluntary Carbon Market in a Major Growth Phase: NZX CEO
Jul 3 2008
Source: Mumbai (TZ1)
Stock exchange operator NZX's carbon market subsidiary TZ1 has been appointed as a global registry for the Voluntary Carbon Standard (VCS). NZX chief executive Mark Weldon said the voluntary carbon market was in a major growth phase.
"TZ1 is well placed to deliver registry services to this sector, which has been lacking true financial market infrastructure to date," he said.
TZ1 said VCS was recognised as the global leader of voluntary carbon standards. Projects that were approved under the VCS were issued with voluntary carbon units which must be held in an authorised VCS registry. The TZ1 registry provided unique identification, transparency, authenticity and traceability of carbon credits from origin, and robust electronic transfer of ownership or retirement of credits when needed.
TZ1 had been focusing on the carbon registry business after identifying it as being under-served globally, and during the past six months had taken part in an intensive selection process.
