Markit Environmental Registry, a leading environmental registry which lists the majority of the world’s credits based on voluntary carbon and ecosystem standards, today …...
announced the launch of the Markit Pending Issuance Unit Registry (PIU Registry), a new section of the registry that enables members to list, track and manage Pending Issuance Units (PIUs).
The PIU Registry is designed to bring the same level of transparency that exists in the voluntary carbon market for issued carbon credits to those carbon credits that are pending issuance. Pending Issuance Units represent a contractual right to an emission reduction credit that is in process of being validated. Large scale projects can often take long periods of time to generate their issued credits. Market participants have long sought ways to tap into the supply of PIUs, however, until now, there has been no mechanism available to list, track and manage them.
Sal Naro, Executive Vice President of Commodities, Equities and Risk Management at Markit, said: “The Pending Issuance Unit Registry is a real breakthrough and represents true innovation for the carbon market. For the first time, it gives market participants confidence in the existence of a Pending Issuance Unit and ensures their traceability until they are converted to an issued carbon credit.”
Helen Robinson, Managing Director of Markit Environmental Registry, said: “Our role as a financial markets registry is to ensure transparency and security for all participants. The Markit Environmental Registry lists units with anticipated future delivery as Pending Issuance Units (PIUs) following a rigid process that checks the authenticity of every PIU, attaches a tracking number to it, and then provides visibility to the market of each PIU throughout its lifecycle.”
Source: ETFWorld.co.uk – Markit
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