BNY Mellon and Markit Partner to Extend Voluntary Carbon Registry Services
October 14 2009 - 8:00AM
PR Newswire (US)
NEW YORK, Oct. 14 /PRNewswire-FirstCall/ -- BNY Mellon, the global
leader in asset management and securities servicing, and Markit, a
financial information services company, have entered into a joint
agreement to enhance the financial infrastructure supporting the
voluntary carbon markets. The agreement provides environmental
markets with increased financial market security by combining
Markit Environmental Registry's services with BNY Mellon's Trade
Settlement facilities. Markit Environmental Registry (formerly TZ1
Registry), a leading voluntary environmental registry which lists
the majority of the world's voluntary carbon and ecosystem
standards, will provide BNY Mellon customers with registry services
for leading international Voluntary Carbon Standard approved
credits (VCUs) and other voluntary carbon credits, and settling
facilities for all credit types currently listed on the Registry.
"Because carbon and other environmental markets are developing into
recognized financial markets, a reliable and efficient operational
infrastructure must be put in place to support their successful
development. This collaborative approach between our company and
Markit represents a clear step in that direction," said Scott
Posner, chief executive officer of BNY Mellon Corporate Trust. "We
have been a leading provider of voluntary carbon custody and
registry services for several years and this alliance will provide
our customers with access to an expanded range of carbon
standards." Sal Naro, executive vice president and global co-head
of commodities, equities and risk management at Markit, said, "By
linking our environmental registry services with BNY Mellon's
Custody and Trade Settlement facilities, we are making the carbon
market's infrastructure more robust and efficient, providing
investors with the confidence they need to trade in this market."
"The registry plays a significant role in the management and
tracking of credit ownership and authenticity. The provision of
settlement services using BNY Mellon as the trade settlement bank
provides our customers with efficient payment and credit delivery,"
said Helen Robinson, managing director of the Markit Environmental
Registry. Through BNY Mellon Corporate Trust, BNY Mellon offers a
global custody service to facilitate trading of carbon credits. BNY
Mellon is the corporate brand of The Bank of New York Mellon
Corporation (NYSE:BK). BNY Mellon is a global financial services
company focused on helping clients manage and service their
financial assets, operating in 34 countries and serving more than
100 markets. The company is a leading provider of financial
services for institutions, corporations and high-net-worth
individuals, providing superior asset management and wealth
management, asset servicing, issuer services, clearing services and
treasury services through a worldwide client-focused team. It has
$20.7 trillion in assets under custody and administration, $926
billion in assets under management, services $11.8 trillion in
outstanding debt and processes global payments averaging $1.8
trillion per day. Additional information is available at
http://www.bnymellon.com/. Markit Environmental Registry lists the
majority of the world's voluntary carbon and ecosystem standards.
It has over 40 million tonnes of voluntary emission reductions
registered on its platform and is the only registry worldwide that
lists all types of environmental assets including carbon, water,
conservation banking and other biodiversity assets. Formerly known
as TZ1 Registry, it was acquired by Markit in June 2009. For more
information, please see http://www.markitenvironmental.com/. Markit
is a financial information services company with more than 1,200
employees in Europe, North America and Asia-Pacific. Over 1,500
financial institutions use its independent services to manage risk,
improve operational efficiency and meet regulatory requirements.
For more information, see http://www.markit.com/. DATASOURCE: BNY
Mellon CONTACT: Kevin Heine, BNY Mellon, +1-212-635-1590, ; or
Claire Gorman, Markit, +44-20-7064-6032, Web Site:
http://www.bnymellon.com/
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