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.