The Bank of New York Mellon News

The Bank of New York Mellon Appointed to Run Voluntary Carbon Standard Registry Service for Voluntary Carbon Units

NEW YORK, July 3 PRNewswire-FirstCall — The Bank of New York Mellon, the global leader in asset management and securities servicing, has been appointed by the Voluntary Carbon Standard Association to be a Voluntary Carbon Unit (VCU) registry provider as part of the association's new registry system to be launched later this year.

In its role as registry, the company will issue, hold, trade and retire VCUs representing greenhouse gas reduction or removal on behalf of registry participants.

The new registry system is a critical component in the ongoing development of the Voluntary Carbon Standard and the processes for the voluntary carbon offset market, allowing participants who wish to transfer and retire VCUs to do so via a secure and transparent infrastructure.

Scott Posner, chief executive officer of The Bank of New York Mellon's Global Corporate Trust business, said, "Our selection as a VCU registry recognizes the support we have provided to help expand the voluntary carbon market and highlights our expertise in providing critical infrastructure services to financial markets worldwide."

In 2006 The Bank of New York Mellon launched a global registrar and custody service to facilitate trading of VCUs, responding to market demand for services to support the voluntary reduction of greenhouse gas emissions.

The Bank of New York Mellon's Global Corporate Trust business services $12 trillion in outstanding debt from 55 locations around the world. It services all major debt categories, including corporate and municipal debt, mortgage-backed and asset-backed securities, collateralized debt obligations, derivative securities and international debt offerings.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than $23 trillion in assets under custody and administration and more than $1.1 trillion in assets under management. Additional information is available at bnymellon.com.

SOURCE The Bank of New York Mellon

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