Update on VCS Registries
Background

22 August 2008

The VCS Association announced on 2 July 2008 that APX Inc., Bank of New York Mellon, Caisse des Depots and TZ1 have been approved to operate VCS Program registries for the VCS 2007. The 2 July announcement confirmed that registries had been selected by the VCS Association, but not that the registries had gone live and could issue Voluntary Carbon Units (VCUs) under the VCS 2007.

On 8 July 2008 the VCS Association appointed APX to develop and operate the VCS project database on behalf of the VCS Association. All proponents looking to register a VCS 2007 project and/or issue VCUs shall in all circumstances work directly with one of the four VCS registries who will then provide guidance, and be responsible for, interactions with the project database on the VCS website. The VCS website will publicly display all VCS registered projects across the four registries.

Policy Update

To remove any market confusion, the VCS Association reiterates that although it has appointed registries, no VCS registry has gone live and can issue Voluntary Carbon Units under the VCS 2007. The VCS Association is in the process of finalising the system for communication between registries and with the project database. As per the announcement on 2 July, the VCS registry system will go live and each registry will be able to issue VCUs in September 2008. For latest information on the VCS registry process always defer to the VCS website http://v-c- s.org/projects.html.

For further information on each VCS registry please contact:

APX Inc.
Reiner Musier, Vice President and CMO +1 617-699-0929, RMusier@apx.com
Bank of New York Mellon
Guy Cross + 44 207 964 6047, guy.cross@bnymellon.com;
or Kevin Heine +1 212-635-1590, kevin.heine@bnymellon.com
Caisse des Depots
Olivier Guittet + 33 158 50 7232 olivier.guittet@caissedesdepots.fr
www.caissedesdepots.fr
TZ1
email: registry@tz1market.com
web: www.tz1market.com
phone: Jane Lloyd (USA) +1 212 883 0338 or +1 888 278 0278;
Brendan Monaghan (UK) +44 203 207 9300;
Australia 1800 625 574;
and New Zealand +64 9 368 1776

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