Unedited press release — emphasis added:
The Reference Data Service for the Carbon Markets
The verified carbon credit markets enable companies, organisations and individuals to buy, hold, sell and retire carbon credits issued by registries in respect of projects that are designed and developed to remove, reduce, avoid, sequester or mitigate emissions of greenhouse gases (GHGs) into the atmosphere. These markets are widely considered to have an important role to play in achieving global GHG reduction goals.
Carbon credits are issued for given time periods, or “vintages”, in respect of registered projects from around the world, are audited or certified in accordance with third party carbon standards, and are then recorded and held in registries operated in connection with such standards. The registries are the official recordkeeping systems for these carbon credits and track their generation, issuance, transfer, retirement, conversion and/or cancellation.
For the carbon credit markets to continue to grow in a scalable and sustainable way, standardised, reliable and robust reference data that can be widely used and adopted by market participants is required.
ICE Benchmark Administration Limited (IBA), one of the world’s most experienced administrators of regulated benchmarks, is launching ICE CRED as a reference data service for the carbon credit markets.
IBA has leveraged its capabilities and high standards of data management and robust governance with the aim to normalise, standardise, aggregate and supplement public data available from the registries in respect of carbon credits.
ICE CRED is designed to support carbon credit market participants throughout the trading lifecycle, providing the opportunity to reduce operational risk and cost and promote greater scalability in their carbon credit trading operations.