This is a crucial development to make trading credits in the rapidly growing VCM more efficient.

The CUSIP is a nine-character alphanumeric security identifier that captures the unique attributes of issuers and their financial instruments throughout the U.S. and Canada. Relied upon to provide universally recognized identifiers for financial instruments issued by corporations, municipalities and government agencies around the world, the CUSIP system has been the trusted standard for U.S. securities identification for over five decades.

Through this alliance, BeZero and CGS will integrate carbon credit data into the most widely used global market identifier available, and will create CUSIP identifiers for all carbon credit projects listed on the major registries at a vintage level (the year the carbon credits were originated).

Initially, CUSIP numbers will be applied to projects accredited by the Verified Carbon Standard, American Carbon Registry, Gold Standard and Climate Action Reserve.

The CUSIP identifiers will be available on the CUSIP platform, and will be integrated onto the BeZero Carbon platform in the coming months. As the VCM scales, CUSIP identifiers will help make carbon credit trading more efficient, and will be a powerful tool for companies looking to expand and to track their carbon credit investments.

Scott Preiss, Senior Vice President and Global Head, CUSIP Global Services, said: “Accurate, interoperable and universally accessible security- and entity-level identification is the foundation of any efficient market because it allows all market participants to communicate seamlessly in a common language that cuts across geographies, operating systems and vendors. We are honored to have the opportunity to bring that much-needed structure and organization to the VCM and we look forward to playing an important role in helping the marketplace grow.”

Tommy Ricketts, CEO and co-founder of BeZero Carbon, said: “We’re proud to be partnering with CGS to create unique identifiers for voluntary carbon credits. The CUSIP is the most widely used global market identifier available and is trusted by some of the biggest corporations in the world. As the voluntary carbon market scales at pace into a multi-billion-dollar global market, the efficiencies these unique identifiers can bring to carbon credit trading will be invaluable and ultimately will support the market to grow into a force for global environmental impact.”