Australia recently became the 34th country to link its carbon registry to the International Transaction Log (ITL), the UN software overseeing international transfer of Kyoto protocol carbon credits, the United Nations Framework Convention on Climate Change (UNFCCC). 

 

The link will allow Australian project developers to import carbon credits from the Clean Development Mechanism as well as let the government buy emission rights and carbon credits to help it meet its target under the Kyoto protocol.

 

In verifying registry transactions, the ITL provides an independent check that unit holdings are being recorded accurately in registries. Australia’s linkage to the ITL was announced in late December 2008.