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National Carbon Registry

Facts for Prelims (FFP)

 

Source: UNDP

 Context: The UNDP (United Nations Development Programme) has created an open-source software named the National Carbon Registry for effectively managing national data and processes related to trading carbon credits.

  • This software has received accreditation as a digital public good (DPG), utilizing open-source code that countries can adapt to their own requirements.
  • It comprises various modules, software, and technical documentation that can be customized by countries, potentially reducing costs and timelines for implementation.
  • The registry aligns with best practices and insights from countries, supported by the Digital4Climate Working Group, which includes UNDP, World Bank, UNFCCC, and EBRD.

This initiative aims to build a digital public infrastructure for addressing climate challenges and carbon markets. The software also aligns with the Paris Agreement’s Article 6 and NDCs, recognizing the growing interest in carbon markets worldwide for GHG emission reduction.