Eco-Markets Australia has selected IHS Markit to deliver an environmental registry platform to support the Reef Credit Scheme. An Australian first, the Reef Credit Scheme incentivizes land management practices that reduce pollution entering Great Barrier Reef catchment areas, and therefore improve reef ecosystems and health.

Eco-Markets Australia, who administers the Reef Credit Scheme, is a non-profit organization established to promote market-based solutions to maintain, enhance and restore ecosystem services. "As the first independent administrator of environmental markets in Australia, partnering with a leading Registry provider such as IHS Markit is essential to the success of our programs", said Eco-Markets Australia Chair Jo Sheppard. "The Reef Credit Scheme plays an important role in protecting the Great Barrier Reef and values the work of landowners improving Reef water quality.

"IHS Markit looks forward to playing a role in helping Australia's emerging reef credit market evolve and grow, particularly at a time when the Great Barrier Reef is suffering large-scale die-offs due to a variety of factors driven by climate change," said Kathy Benini, Head of Environmental Solutions at IHS Markit. "The Registry supports Eco-Markets Australia's ability to track the lifecycle of a credit, provide transparency, and facilitate connectivity to market participants".

IHS Markit's Environmental Registry platform enables the efficient and transparent management of global carbon, water and biodiversity credits in a centralized online platform. This includes tracking environmental projects and facilitating the issue, transfer and retirement of serialized credits. By using the Environmental Registry, clients benefit from increased transparency, efficiency and scalability within global environmental markets.

The Reef Credit Scheme Registry launched today, November 22, 2021. For more information, or to access the Registry, visit: https://ihsmarkit.com/products/environmental-registry.html.

IHS Markit's Environmental Registry Credentials

IHS Markit has designed and developed environmental registries and auction infrastructure for voluntary and compliance markets in the Americas, EMEA and APAC. Its Environmental Registry for carbon, water and biodiversity credits has provided full tracking for the lifecycle of more than 350 million credits across over 30 compliance and voluntary programs. The Registry has been voted "Best Registry Provider" by the readers of Environmental Finance for the eleventh year running.

S&P Global provides industry-leading data, software and technology platforms and managed services to tackle some of the most difficult challenges in financial markets. We help our customers better understand complicated markets, reduce risk, operate more efficiently and comply with financial regulation.

This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.