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UN International Transaction Log |
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UN International Transaction Log (ITL) is responsible for verifying transaction that registries propose to conduct. ITL has to verify that proposed transactions follow the conditions of the Kyoto Protocol.
Beginning of operations
UN International Transaction Log became operational from November 14, 2007. Currently a significant number of registries have tied up with ITL. Switzerland, Japan, New Zealand, Hungary, and Russia have all started live operations with International Transaction Log.
Registry connections
Secure communication channels over the internet connect registries to ITL. This communication channel is quite effective and allows ITL to respond to transaction information provided by registries on an immediate basis.
What does ITL do?
ITL is responsible for safeguarding integrity of Kyoto Protocol accounting. It also performs the task of validating data exchange standards and surety of delivery to carbon markets. It holds records of transactions conducted by registries. Other tasks of International Transaction Log include reconciliation of ITL and registry records and notifying registries about the status of their proposed transaction.
UNFCCC secretariat
United Nations Framework Convention on Climate Change or UNFCCC is the official administrator of International Transaction Log. UNFCCC has awarded contracts to popular IT services companies for maintaining development and operational functions of ITL. Two commercial data centers located in UK host operations of ITL. A UK based service desk provides support to registries and ITL administrators.
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