Kyoto global emissions trading system to go live
The United Nations climate change secretariat (UNFCCC) has announced that the International Transactional Log (ITL) of the Kyoto Protocol emissions reduction framework will connect with carbon registries from 26 EU countries from October 16.
This will allow companies operating under the EU Emissions Trading Scheme to exchange emissions rights on a global scale and also to register in National Registries certified emission reduction credits (CERs). CERs are issued under Kyoto’s Clean Development Mechanism (CDM) and can be used towards companies’ compliance targets.
Each national registry transaction will be verified by the ITL in real time to ensure consistency with Koyoto protocol.
“In terms of carbon market, ETS go-live with the
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