· Global open-source metadata system launches to unify carbon credit registry data
· Founding Partners IETA, World Bank and Singapore Government announce the CAD Trust Council to provide strategic guidance
· Major registries will plan to connect during Q1 2023, when the public data layer will go live
The CAD Trust Founding Partners also announced the governance structure and the composition of the CAD Trust Council that will advise and guide the initiative by setting its strategic direction.
CAD Trust was formed by three Founding Partners, IETA, the World Bank and the Singapore Government. It will engage with a variety of governments and public and private organisations to set the specifications for an open-source metadata system to share information about carbon credits and projects across digital platforms, easing future integration of multiple registry systems.
Major registries, along with other national registries and the wider ecosystem of registries will plan to connect to CAD Trust in early 2023, with the first layer of data to be made publicly available at that point. Many of these registries are already represented via the CAD Trust Council, with integration into the data layer already underway for several of them.
Dirk Forrister, President and CEO, IETA, said: “Today’s launch of the CAD Trust marks a significant step in the evolution of carbon markets. It will lead to the creation of a centralised, accessible and secure digital infrastructure that national governments and private businesses can rely upon as they expand carbon markets to meet their net-zero goals. This system will provide the integrity and public trust necessary for scaling up investment in climate action.”
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