Credit registration & issuance
Bay Bank is partnering with Markit Environmental Registry to provide a multiple market registry that will ensure that only credits developed according to specific market rules will be issued and that credits can be tracked for the life a contract.
This transparency will serve markets by ensuring that individual credits are not being sold multiple times—a practice know as double-dipping. The registry is also a first step in developing rules that allow credit “bundling” or “stacking,” the ability to generate multiple credits from a single conservation action.
The multi-state nature of the registry will assist the development of regional ecosystem markets like interstate water quality trading.
