The Northern Trust Carbon Ecosystem is powered by the firm’s digital assets platform, Matrix Zenith, to connect 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 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 first live transactions have now been initiated by Water Recovery Systems IP and CUT Carbon Distributed Technologies, which sold credits to institutional buyers for retirement. Pete Cherecwich, president, asset servicing, Northern Trust, says: "The Northern Trust Carbon Ecosystem supports the growing interest in the Voluntary Carbon Market by providing a digital lifecycle management capability for voluntary carbon credits. "The seamless and secure settlement experience is designed to give project developers and institutional buyers confidence in their carbon credit transactions, with Northern Trust as the custodian."