Answer: To track emissions and invest in emission-reducing projects
Notes: National Carbon Registry is open-source software that allows countries to manage their carbon credit trading data and processes. The software was launched by the UNDP in August 2023. It is the first of its kind to allow countries to customize the code to their specific needs. The registry is supported by the Digital4Climate Working Group, which includes the UNDP, World Bank, UNFCCC, and EBRD. The group aims to build a digital public infrastructure to address climate challenges and carbon markets. The carbon registry system allows companies to track their emissions and then offset them by investing in emission-reducing projects. For example, a company might invest in a project that captures methane from a landfill or replaces high-emitting lightbulbs with low-emitting LED lights. The registry's framework is based on globally recognized ISO standards. Independent verification bodies ensure that carbon reduction projects follow strict rules in offsetting.
