Voluntary Carbon Standard Registry Debuts

Published March 17, 2009

The Voluntary Carbon Standard Association launched an online registry and database of approved projects and carbon credits issued under its program.

Proponents say the move will boost credibility of the voluntary carbon market because the credits, called Voluntary Carbon Units (VCUs), can be tracked from the time they are issued until retirement to avoid double-counting.

International companies APX Inc., Caisse des Dépôts and TZ1 will operate as registries for the VCS Registry System by issuing, holding, transferring and retiring the VCUs. More registries could be added in the future to scale up the program and buyers will soon be able to transfer VCUs across registries so they don't have to open multiple accounts.

"Credits verified under the VCS are attracting growing interest from U.S. buyers because of their high-quality, affordability and potential fungibility with any future U.S. cap-and-trade system," Mark Kenber, VCSA chair and The Climate Group policy director, said in a statement. "The robust legal framework and infrastructure will further underpin buyer and public confidence in the market and in carbon as a tradable commodity."

The global voluntary carbon market was valued at $330 million in 2007, compared to $64 billion for the compliance market.

Both markets, like most sectors, are feeling the effects of the global recession. In a survey published Tuesday by consulting firm Point Carbon, 60 percent of respondents who work in companies with carbon trading operations said they will scale back, delay or cancel carbon credit project investments because of the sour economy.

About 90 percent believe the U.S. will begin its own emissions trading scheme by 2015, while only 59 percent expect an international climate agreement in Copenhagen in December.

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Voluntary Carbon Standard Registry Debuts

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Voluntary Carbon Standard Registry Debuts

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