Northern Trust Develops Capability to Create Digital Voluntary Carbon Credits in Near Real-Time
Northern Trust (NTRS) has announced a significant enhancement to its Carbon Ecosystem™, enabling the generation of digital voluntary carbon credits in near real-time. This development streamlines the verification process for Voluntary Carbon Markets (VCM) by automating previously manual processes.
The system can now receive data and record verified carbon credits almost instantly, capturing important attributes like CO2 capture flow rates and power consumption. Northern Trust is collaborating with several partners, including InceptionX, which has successfully transmitted carbon data from a San Francisco wastewater recycling installation, Mangrove Systems, providing digital measurement and verification solutions, and The Carbon Removers, a UK-based project developer working with a Scottish distillery.
This enhancement follows the formal launch of The Northern Trust Carbon Ecosystem in September 2024, which connects institutional buyers with project developers. The platform uses blockchain technology to enable direct purchase and retirement of digital carbon credits, with Northern Trust acting as the designated custodian.
Northern Trust (NTRS) ha annunciato un'importante potenziamento al suo Carbon Ecosystem™, permettendo la generazione di crediti di carbonio volontari digitali in quasi tempo reale. Questo sviluppo semplifica il processo di verifica per i Mercati del Carbonio Volontario (VCM) automatizzando processi precedentemente manuali.
Il sistema può ora ricevere dati e registrare crediti di carbonio verificati quasi istantaneamente, catturando attributi importanti come le tariffe di flusso di cattura di CO2 e il consumo energetico. Northern Trust sta collaborando con diversi partner, tra cui InceptionX, che ha trasmesso con successo dati sul carbonio da un impianto di riciclo delle acque reflue a San Francisco, Mangrove Systems, che fornisce soluzioni di misurazione e verifica digitali, e The Carbon Removers, un sviluppatore di progetti con sede nel Regno Unito che collabora con una distilleria scozzese.
Questo potenziamento segue il lancio ufficiale del Northern Trust Carbon Ecosystem a settembre 2024, che connette acquirenti istituzionali con sviluppatori di progetti. La piattaforma utilizza la tecnologia blockchain per abilitare l'acquisto diretto e il ritiro di crediti di carbonio digitali, con Northern Trust che funge da custode designato.
Northern Trust (NTRS) ha anunciado una mejora significativa en su Carbon Ecosystem™, que permite la generación de créditos de carbono voluntarios digitales en casi tiempo real. Este desarrollo agiliza el proceso de verificación para los Mercados de Carbono Voluntario (VCM) mediante la automatización de procesos que antes eran manuales.
El sistema ahora puede recibir datos y registrar créditos de carbono verificados casi al instante, capturando atributos importantes como las tasas de flujo de captura de CO2 y el consumo de energía. Northern Trust está colaborando con varios socios, incluyendo InceptionX, que ha transmitido con éxito datos de carbono desde una instalación de reciclaje de aguas residuales en San Francisco, Mangrove Systems, que ofrece soluciones de medición y verificación digital, y The Carbon Removers, un desarrollador de proyectos basado en el Reino Unido que trabaja con una destilería escocesa.
Esta mejora sigue al lanzamiento formal del Northern Trust Carbon Ecosystem en septiembre de 2024, que conecta a compradores institucionales con desarrolladores de proyectos. La plataforma utiliza tecnología blockchain para permitir la compra directa y la retirada de créditos de carbono digitales, con Northern Trust actuando como el custodio designado.
노던 트러스트(NTRS)는 탄소 생태계™에 중대한 향상이 있음을 발표하여 거의 실시간으로 디지털 자발적 탄소 크레딧을 생성할 수 있게 되었습니다. 이 개발은 자발적 탄소 시장(VCM)의 검증 프로세스를 간소화하며 이전 수작업 프로세스를 자동화합니다.
시스템은 이제 데이터를 수신하고 검증된 탄소 크레딧을 거의 즉시 기록할 수 있으며, CO2 포획 유량과 전력 소비와 같은 중요한 속성을 포착합니다. 노던 트러스트는 샌프란시스코 폐수 재활용 설치에서 탄소 데이터를 성공적으로 전송한 인셉션X, 디지털 측정 및 검증 솔루션을 제공하는 망고브 시스템즈, 그리고 스코틀랜드 양조장과 협력하는 영국 기반 프로젝트 개발자 더 카본 리무버스 등 여러 파트너와 협력하고 있습니다.
이 향상은 2024년 9월에 공식 출시된 노던 트러스트 탄소 생태계에 이어지며, 이는 기관 구매자와 프로젝트 개발자를 연결합니다. 이 플랫폼은 블록체인 기술을 사용하여 디지털 탄소 크레딧의 직접 구매 및 퇴직을 가능하게 하며, 노던 트러스트가 지정된 수탁자로 활동합니다.
Northern Trust (NTRS) a annoncé une amélioration significative de son Carbon Ecosystem™, permettant la génération de crédits carbone numériques volontaires en quasi temps réel. Ce développement rationalise le processus de vérification sur les Marchés de Carbone Volontaire (VCM) en automatisant des processus auparavant manuels.
Le système peut désormais recevoir des données et enregistrer des crédits carbone vérifiés presque instantanément, capturant des attributs importants tels que les débits de capture de CO2 et la consommation d'énergie. Northern Trust collabore avec plusieurs partenaires, dont InceptionX, qui a transmis avec succès des données carbone d'une installation de recyclage des eaux usées à San Francisco, Mangrove Systems, qui fournit des solutions de mesure et de vérification numériques, et The Carbon Removers, un développeur de projets basé au Royaume-Uni travaillant avec une distillerie écossaise.
Cette amélioration suit le lancement officiel de The Northern Trust Carbon Ecosystem en septembre 2024, qui connecte les acheteurs institutionnels avec les développeurs de projets. La plateforme utilise la technologie blockchain pour permettre l'achat direct et la retraite des crédits carbone numériques, avec Northern Trust agissant en tant que dépositaire désigné.
Northern Trust (NTRS) hat eine bedeutende Verbesserung seines Carbon Ecosystem™ angekündigt, die die Erzeugung digitaler freiwilliger Kohlenstoffgutschriften in nahezu Echtzeit ermöglicht. Diese Entwicklung rationalisiert den Verifizierungsprozess für die Freiwilligen Kohlenstoffmärkte (VCM) durch die Automatisierung zuvor manueller Prozesse.
Das System kann nun Daten empfangen und verifizierte Kohlenstoffgutschriften nahezu sofort erfassen, wobei wichtige Attribute wie CO2-Erfassungsdurchflussraten und Stromverbrauch aufgezeichnet werden. Northern Trust arbeitet mit mehreren Partnern zusammen, darunter InceptionX, das erfolgreich Kohlenstoffdaten von einer Abwasserrecycling-Anlage in San Francisco übermittelt hat, Mangrove Systems, das digitale Mess- und Verifizierungslösungen anbietet, sowie The Carbon Removers, ein in Großbritannien ansässiger Projektentwickler, der mit einer schottischen Destillerie zusammenarbeitet.
Diese Verbesserung folgt auf den offiziellen Start des Northern Trust Carbon Ecosystem im September 2024, das institutionelle Käufer mit Projektentwicklern verbindet. Die Plattform nutzt Blockchain-Technologie, um den direkten Kauf und die Rücknahme digitaler Kohlenstoffgutschriften zu ermöglichen, wobei Northern Trust als benannter Treuhänder fungiert.
- Development of real-time digital carbon credit generation capability
- Successful implementation with multiple project developers and data providers
- Automation of previously manual verification processes
- Enhanced transparency and traceability in carbon credit lifecycle
- None.
Insights
Northern Trust's breakthrough in real-time digital carbon credit generation marks a pivotal advancement in the $2 billion Voluntary Carbon Market. This technological innovation addresses three critical market inefficiencies:
- Reduces verification timeframes from months to near real-time, accelerating project developers' revenue recognition
- Enhances credit transparency through detailed data capture including CO2 flow rates and power consumption metrics
- Automates traditionally manual processes, significantly reducing operational costs and human error potential
The strategic significance extends beyond operational improvements. By positioning itself as an infrastructure provider in the rapidly growing carbon markets, Northern Trust is creating a new revenue stream in the institutional custody business. The platform's integration with established project developers and verification systems suggests strong market validation.
The implementation of blockchain technology through Northern Trust Matrix Zenith™ provides institutional-grade security and transparency - critical factors for attracting large-scale buyers to the voluntary carbon market. This could significantly impact Northern Trust's competitive position in the institutional custody space, where environmental, social and governance (ESG) capabilities are increasingly differentiating factors.
For investors, this represents a strategic pivot towards future growth markets, potentially diversifying revenue streams beyond traditional custody services. The technology's ability to support real-time credit generation could significantly increase transaction volumes and associated fees, while the enhanced transparency may attract institutional investors who previously avoided carbon markets due to verification concerns.
New functionality via The Northern Trust Carbon Ecosystem™ could streamline the verification process for Voluntary Carbon Markets
Northern Trust has been working with project developers focused on climate solutions and their data collection providers to streamline the generation of verified carbon credits to enable more automation in the VCM. The Northern Trust Carbon Ecosystem was able to receive data and record verified carbon credits in near real-time from participating providers, with the associated data attributes captured and stored on individual credits for accuracy and transparency. These data attributes encompass precise measurements including carbon dioxide capture flow rates, power consumed to capture the carbon dioxide and parameters critical for robust verification and traceability such as when and where the carbon was captured.
Justin Chapman, global head of Digital Assets and Financial Markets, at Northern Trust, said: “Despite some automation and digitization in the VCM over the last few years, the measurement, reporting and verification of carbon credits has been characterised by manual processes which are resource- and time-intensive. This additional capability of The Northern Trust Carbon Ecosystem further enhances our ability to support a fully digital lifecycle management solution for voluntary carbon credits. The recordation of verified carbon credits in near real-time on our platform supports project developers in expediting the commercialisation opportunity of their projects.”
Northern Trust has been collaborating with data collection providers and project developers, including:
-
InceptionX which provides an end-to-end platform for equipment monitoring and carbon measurement, enabling the quantification and validation of carbon assets and industrial equipment in real-time. By integrating advanced IoT devices, machine learning capabilities, and real-time data collection, InceptionX successfully transmitted quantified carbon data from a wastewater recycling installation in
San Francisco to The Northern Trust Carbon Ecosystem, facilitating the creation of carbon credits.
-
Mangrove Systems, a digital measurement, reporting and verification (dMRV) solution for project developers focused on carbon dioxide removal and carbon storage, and The Carbon Removers, a
UK -based project developer which captures, removes and sequesters biogenic carbon. Northern Trust is working in partnership with Mangrove Systems to enable a more automated and timely verification of the carbon credits generated from The Carbon Removers’ carbon capture plants located at a Scottish distillery. Real-time data from the plants is being collected automatically by Mangrove’s dMRV system and mapped against The Carbon Removers’ protocol. It is then sent to Northern Trust to generate carbon credits via its ecosystem, leveraging the detailed data and evidence related to the carbon dioxide capture and sequestration provided by Mangrove Systems.
Tom Dickie, Chief Executive Officer, at InceptionX, said: “The Northern Trust Carbon Ecosystem provides us with a set of solutions that allows us to securely create carbon credits in near real-time on behalf of our project developer clients, enabling them to transact those credits in a shorter timeframe.”
Brandon Vlaar, Chief Executive Officer, at Mangrove Systems, said: “The Northern Trust Carbon Ecosystem will store critical data parameters required for robust verification and traceability of each credit, enhancing the transparency into the verified carbon credits and speeding up the time it takes to have them recorded on a register.”
Sanjay Parekh, Chief Commercial Officer, at The Carbon Removers, said: “Having the capability to capture specific information like the date, location and flow rate for every carbon credit we capture and sequester allows us to ensure that the buyers of our credits can see the full lifecycle of each credit created – providing full transparency and traceability.”
Northern Trust announced the formal launch of The Northern Trust Carbon Ecosystem in September 2024 with the first live transactions. The ecosystem connects institutional buyers with project developers focused on climate solutions to avoid, reduce, or remove greenhouse gases in the atmosphere. Supported by private ledger digital blockchain technology, buyers can purchase digital carbon credits directly from project developers and retire these against their emissions footprint. Northern Trust acts on instruction to record, transfer and settle digital carbon credits in its capacity as the designated custodian.
The Northern Trust Carbon Ecosystem is powered by Northern Trust’s digital assets platform, Northern Trust Matrix Zenith™. The latest milestone in Northern Trust’s asset servicing innovation journey, Northern Trust Matrix Zenith supports key digital asset lifecycle events from asset creation, trading, pricing and custody to reporting.
The Northern Trust Carbon Ecosystem is offered through The Northern Trust Company,
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in
Northern Trust Corporation, Head Office: 50 South La Salle Street,
View source version on businesswire.com: https://www.businesswire.com/news/home/20250130582362/en/
Media Contacts
Camilla Greene
+44 (0) 20 7982 2176
Camilla_Greene@ntrs.com
Simon Ansell
+ 44 (0) 20 7982 1016
sa777@ntrs.com
US &
John O’Connell
+1 312 444 2388
John_O’Connell@ntrs.com
Source: Northern Trust Corporation
FAQ
What is the new feature announced by Northern Trust (NTRS) for carbon credits?
Which companies are partnering with Northern Trust (NTRS) for carbon credit verification?
When did Northern Trust (NTRS) launch its Carbon Ecosystem?
How does Northern Trust (NTRS) verify carbon credits on its platform?
What role does blockchain play in Northern Trust's (NTRS) Carbon Ecosystem?
