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| Markit brings transparency to new U.S. water flow restoration initiative | | Aug 19 2009 | |
New York, NY and Portland, OR - Markit, a financial information services company, today announced that Markit Environmental Registry (formerly TZ1 Registry), a global provider of registries for carbon and ecosystems markets, has been appointed as the official registry for the first and only national voluntary water restoration marketplace. This new marketplace was created by the Bonneville Environmental Foundation (BEF) to increase water flow in critically dewatered U.S. rivers and streams.
As part of this initiative, BEF issues Water Restoration Certificates ™ (WRCs) under its BEF Flow Restoration Standard. The WRCs represent verified restored river flow in high priority stream areas. The National Fish and Wildlife Foundation (NFWF) has certified the standards and criteria for all BEF WRC projects to ensure that water is returned at a time and place that will produce real environmental benefits including supporting fish and wildlife habitat.
Markit Environmental Registry assigns individual serial numbers to WRCs based on WRC project data and tracks them throughout their lifecycle to help ensure that water returned to the environment is never counted twice.
Helen Robinson, Managing Director of Markit Environmental Registry, said: "The WRC is a first of its kind and has a powerful potential to restore rivers and streams. Water is a key global issue and one that naturally lends itself to market mechanisms. We are very excited to be at the forefront of this new environmental market with an innovative organisation like BEF, and to play a part in creating a robust and credible product."
Margie Gardner, CEO of the Bonneville Environmental Foundation, said: "Markit Environmental Registry understands environmental markets and provides BEF and the emerging water restoration marketplace with a globally credible platform on which to issue and trace the WRCs. Since the Registry is online, it will increase the visibility of WRCs and ensure access to a more extensive marketplace."
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