Registry Functions

Registries record the holdings of Kyoto units, and any transactions involving them, through a structure of accounts.  This is similar to the way that banks record balances and movements in money using accounts allocated to individuals or other entities.  

Data Exchange Standards have been developed to coordinate the electronic messaging that occurs between registry systems when processing transactions. The types of Kyoto units and transactions enabled by these standards are summarized in the tables below. The International Transaction Log (ITL), the European Union Transaction Log (EUTL) and registries also process unit types and transactions defined under other emissions trading schemes, such as European Union (EU) allowances for the first phase of the EU trading scheme and other transaction sub-types defined under this scheme. 

The data held by registries is reconciled on a daily basis with data in the ITL and EUTL. Procedures are in place for identifying and resolving any inconsistencies discovered.

 Kyoto units

 Unit

 Unit name

 Issuer

 Description

Kyoto Protocol

AAU

Assigned
Amount Units

National registry

Units representing the initial assigned amount of each Annex B Party.

Article 3.7

RMU

Removal
Units

National registry

Units given for net removals from land use, land-use change and forestry activities.

Article 3.3, 3.4

ERU

Emission
Reduction
Units

National registry

Units converted from AAUs or RMUs on the basis of JI projects.

Article 6

CER

Certified
Emissions
Reductions

CDM
registry

Credits given for emission reductions certified for a CDM project.

Article 12

tCER

Temporary
CERs

CDM
registry

Credits given for emission removals certified for an afforestation or reforestation CDM project (to be replaced upon expiry at end of the second commitment period).

Article 12

lCER

Long-term
CERs

CDM
registry

Credits given for emission removals certified for an A&R CDM project (to be replaced upon expiry at end of the project's crediting period or in event of storage reversal or non-submission of a certification report).

Article 12

 

Kyoto transaction types

Issuance

Initial creation of an AAU, RMU, CER, tCER or lCER.

Conversion

Transformation of an AAU or RMU into an ERU based on a JI project.

External transfer

External transfer of a unit from one registry to another registry.

Cancellation

Internal transfer of a unit to a cancellation account, in order that it may not be used for compliance with an emission target.

Replacement

Internal transfer of a unit to a replacement account, in order to replace tCERs or lCERs when required.

Retirement

Internal transfer of a unit to a retirement account, in order that it can be used by the Annex B Party for compliance with its emission target.

Carry-Over

Change of validity an AAU, ERU (only those converted from AAUs) or CER from one commitment period to the next.

Expiry date change

Change in the expiry date of a tCER or lCER.

Internal transfer between holding accounts

Internal transfer of a unit between holding accounts within the same registry (the ITL does not verify such transactions but forwards them to the CITL to allow their verification under the EU  trading scheme).