International Transaction Log

From MarketsWiki
Jump to: navigation, search

The International Transaction Log (ITL)is one of two major carbon registries that verifies and tracks the trade and transfer of all United Nations' Kyoto Protocol units such as Emission Reduction Units (ERUs) that include Certified Emission Reductions CERs.

The ITL verifies transactions proposed by registries to ensure they are consistent with rules agreed under the Kyoto Protocol. Each registry sends transaction proposals to the ITL, which checks each proposal and returns to the registry its approval or rejection.[1]

The ITL was linked to EU’s Community Independent Transaction Log (CITL) which tracks European Union Allowances (EUAs) for all 27 EU countries on October 16, 2008.


References

  1. International Transaction Log. UNFCC.