Northern Trust has entered into a service agreement with UK-based Ecosystem Certification Organisation (ECO) to provide recordkeeping and settlement services for digital carbon credit units issued to project developers under the Natural Forest Standard (NFS), which is administered and governed by ECO.
Under the agreement, Northern Trust will record the Natural Capital Credits generated by NFS-certified projects and act on instructions from each project developer to transfer and settle digital carbon credit transactions and provide designated custodial services.