Environmental markets infrastructure provider TZ1 has been selected as the first ever multi-credit ecosystem marketplace registry for the Willamette Partnerships Counting on the Environment project, based in Oregon.
The Willamette Partnership is a collaboration of environmental leaders from across the United States with the goal of increasing conservation in the Willamette River Basin and beyond. Counting on the Environment will establish a multi-credit ecosystem marketplace in the Pacific Northwest with the aim of maximizing the environmental benefits of restoration activities while minimizing their cost. The Partnership is the first of many such initiatives in the United States emerging world of ecosystem markets.
The Counting on the Environment project is funded by a Conservation Innovation Grant from the National Resources Conservation Service and will enable private landowners to use an integrated ecosystem crediting methodology to create better conservation in high priority areas, strengthening such ecosystem services as water quality (temperature), salmonid habitats and wetland and prairie habitats. Credits earned through the system established by the project will be issued and transacted within the TZ1 Registry.
Ecosystem markets have been valued at over USD3 billion annually and have huge growth potential, which can only be truly realized with quality market infrastructure.
“For the Willamette Partnerships Counting on the Environmental project to be successful we need a registry partner with the right expertise, infrastructure, knowledge and passion for environmental markets,” says David Primozich, executive director, the Willamette Partnership. “We are delighted to work with TZ1 who share our common goals and who uniquely offer a financial markets capable registry – a critical requirement for ecosystem markets.”
“There are many exciting ecosystem market initiatives evolving in the USA with visionary leaders who understand the importance of a credible registry provider to help facilitate a transparent and robust environmental market,” says Joanna Silver, head of Ecosystem Markets, TZ1 Registry. “Only with quality infrastructure can these markets be scalable and easily implemented regionally, nationally and globally.”
L.D.