Latest news with #JustinChapman
Business Wire
06-05-2025
- Business
- Business Wire
Northern Trust Joins Project Ensemble to Test the Tokenization of Carbon Credits in a Cross-Border Setting
HONG KONG--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) today announced it has joined Project Ensemble, a Hong Kong Monetary Authority (HKMA) initiative, to help develop an experimental framework for cross-border trading of digital carbon credits. Project Ensemble is the HKMA's initiative aimed at supporting and shaping the development of the tokenization ecosystem in Hong Kong. In this collaboration, industry pioneers will test a framework for the cross-border trade of tokenized carbon credits. The collaboration aims to explore how overseas investors can seamlessly access tokenized voluntary carbon credits traded in Hong Kong. The project will be supported by The Northern Trust Carbon Ecosystem™, a fully digital platform for the end-to-end lifecycle management of digital carbon credits which utilizes private ledger digital blockchain technology. The initiative will leverage The Northern Trust Carbon Ecosystem's seamless settlement experience by recording, transferring and settling digital carbon credits as instructed in its role as designated custodian. Project Ensemble, launched in 2024, is the HKMA's initiative aimed at supporting and shaping the development of the tokenization ecosystem in Hong Kong. Central to this initiative is the Ensemble Sandbox, which is now facilitating the testing of tokenization use cases across different areas, including green and sustainable finance. In the Ensemble Sandbox, Northern Trust, along with other industry pioneers, will test a framework for the cross-border trade of tokenized carbon credits. Northern Trust announced the formal launch of The Northern Trust Carbon Ecosystem in September 2024. The ecosystem connects institutional buyers with project developers focused on climate solutions to avoid, reduce, or remove greenhouse gases in the atmosphere. Buyers can purchase digital carbon credits directly from project developers and retire these against their emissions footprint. The Northern Trust Carbon Ecosystem can support a variety of verified carbon credits, including those from removal and avoidance, providing a unified and fully transparent ledger. Justin Chapman, Group Head of Strategic Partnerships, Digital Assets and Financial Markets at Northern Trust, said: 'Our participation in Project Ensemble represents a significant step in bridging digital asset innovation with sustainable finance on a global scale. By collaborating with industry peers and regulators in Hong Kong, we are exploring new ways to connect markets and facilitate cross-border carbon credit transactions. This initiative exemplifies Northern Trust's strategy of partnering to drive innovation – leveraging our Carbon Ecosystem and digital asset expertise to help develop robust market infrastructure that can accelerate climate action and benefit investors worldwide.' Angelo Calvitto, Head of Asia Pacific at Northern Trust, said: 'The Asia-Pacific region's financial and digital innovation is unmatched in vibrancy and pace, with Hong Kong cementing its position as a leading hub for sustainable finance and tokenization. Northern Trust's participation in Project Ensemble underscores our commitment to being at the forefront of this regional transformation, connecting tokenized markets and building the cross-border sustainable finance infrastructure that will power the next generation of financial services. We are confident that this collaborative initiative will unlock new opportunities across APAC's dynamic markets and help shape the future of finance.' About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2025, Northern Trust had assets under custody/administration of US$16.9 trillion, and assets under management of US$1.6 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.
Yahoo
25-02-2025
- Yahoo
Countries where tourists are expected to tip the most - and where it's rude
Even seasoned travellers can find themselves befuddled by tipping customs. Whether enjoying a meal out, grabbing a takeaway, or joining a tour, determining the right amount to tip can be puzzling. In Britain, service charges are usual in most places when eating out, yet tipping remains largely at one's own discretion, reflecting satisfaction with the service, with many choosing to leave a 10-15% tip. Nevertheless, those gearing up for a summer holiday should note that tipping expectations can vary broadly abroad. Travel experts at Go2Africa have detected a notable boost in curiosity concerning tipping practices, with Google searches for "tipping etiquette" having soared by 163%. Moreover, on TikTok, the hashtag "tipping" has accumulated an immense 567 million posts, prompting broad conversation on the topic. READ MORE: I visit Wales' 'best' seaside town twice a year — it's always better than I remember READ MORE: Hotel nestled on the Pembrokeshire Coast named among UK's most romantic spa breaks The World Population Review has offered some insight, citing the U.S. as the quintessential tipping nation, where it's almost like a social ritual - regarded in the hospitality industry as an essential gesture of gratitude. It indicates: "Standard tip amounts range from 15-20%. "You might see it added to your bill in a restaurant, a tip jar at a doughnut shop, or you may be invited by your conscience to leave one when you are served food or drink by a stranger. Most in the service industry are paid less, as they rely on tips as a large source of their income." The Canadian culture, renowned for its politeness, extends to tipping practices as well. Visitors are encouraged to leave a generous tip for exceptional service, typically within the 15-20% range, according to World Population Review. It states: "Their mindset behind tipping is very similar to America, with a standard tip range from 15-20% being acceptable. It might be added to your bill in some locations, or you may want to simply follow the country's mindset of offering money as a token of gratuity for service that usually is paid at the rate of minimum wage." However, it's considered impolite to leave an insultingly small tip, like a few pennies on a substantial tab, the site cautions. On the other hand, Belgium often adopts a more laid-back attitude, with customers typically indicating their satisfaction by saying 'keep the change'. Some destinations have different attitudes towards tipping. For example, in Japan, tipping could conflict with local customs and possibly cause offence. Instead, a small present might be preferable, suggests travel expert Justin Chapman at Go2Africa. Similarly, in Southeast Asia, tipping isn't a customary practice and travellers are advised to exercise caution so as not to offend inadvertently. As travel experts note, when in doubt, it's safer to lean towards not tipping in these areas. China and South Korea feature too on the list of nations where tipping isn't traditional. In Australia and New Zealand, tipping is typically not expected, though some high-end establishments in tourist areas may add a service charge to the bill. The seasoned traveller's golden rule is "when in doubt – ask a local." They suggest: "If you're unsure of what's expected and don't want to risk offending anyone, ask at your hotel or accommodation, or locals in the restaurant, for advice and guidance on how much to leave (or not leave! )."
Yahoo
30-01-2025
- Business
- Yahoo
Northern Trust Develops Capability to Create Digital Voluntary Carbon Credits in Near Real-Time
New functionality via The Northern Trust Carbon Ecosystem™ could streamline the verification process for Voluntary Carbon Markets CHICAGO, January 30, 2025--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) has announced a significant enhancement for the Voluntary Carbon Market (VCM) through the ability to generate digital voluntary carbon credits in near real-time on The Northern Trust Carbon Ecosystem™. Northern Trust has been working with project developers focused on climate solutions and their data collection providers to streamline the generation of verified carbon credits to enable more automation in the VCM. The Northern Trust Carbon Ecosystem was able to receive data and record verified carbon credits in near real-time from participating providers, with the associated data attributes captured and stored on individual credits for accuracy and transparency. These data attributes encompass precise measurements including carbon dioxide capture flow rates, power consumed to capture the carbon dioxide and parameters critical for robust verification and traceability such as when and where the carbon was captured. Justin Chapman, global head of Digital Assets and Financial Markets, at Northern Trust, said: "Despite some automation and digitization in the VCM over the last few years, the measurement, reporting and verification of carbon credits has been characterised by manual processes which are resource- and time-intensive. This additional capability of The Northern Trust Carbon Ecosystem further enhances our ability to support a fully digital lifecycle management solution for voluntary carbon credits. The recordation of verified carbon credits in near real-time on our platform supports project developers in expediting the commercialisation opportunity of their projects." Northern Trust has been collaborating with data collection providers and project developers, including: InceptionX which provides an end-to-end platform for equipment monitoring and carbon measurement, enabling the quantification and validation of carbon assets and industrial equipment in real-time. By integrating advanced IoT devices, machine learning capabilities, and real-time data collection, InceptionX successfully transmitted quantified carbon data from a wastewater recycling installation in San Francisco to The Northern Trust Carbon Ecosystem, facilitating the creation of carbon credits. Mangrove Systems, a digital measurement, reporting and verification (dMRV) solution for project developers focused on carbon dioxide removal and carbon storage, and The Carbon Removers, a UK-based project developer which captures, removes and sequesters biogenic carbon. Northern Trust is working in partnership with Mangrove Systems to enable a more automated and timely verification of the carbon credits generated from The Carbon Removers' carbon capture plants located at a Scottish distillery. Real-time data from the plants is being collected automatically by Mangrove's dMRV system and mapped against The Carbon Removers' protocol. It is then sent to Northern Trust to generate carbon credits via its ecosystem, leveraging the detailed data and evidence related to the carbon dioxide capture and sequestration provided by Mangrove Systems. Tom Dickie, Chief Executive Officer, at InceptionX, said: "The Northern Trust Carbon Ecosystem provides us with a set of solutions that allows us to securely create carbon credits in near real-time on behalf of our project developer clients, enabling them to transact those credits in a shorter timeframe." Brandon Vlaar, Chief Executive Officer, at Mangrove Systems, said: "The Northern Trust Carbon Ecosystem will store critical data parameters required for robust verification and traceability of each credit, enhancing the transparency into the verified carbon credits and speeding up the time it takes to have them recorded on a register." Sanjay Parekh, Chief Commercial Officer, at The Carbon Removers, said: "Having the capability to capture specific information like the date, location and flow rate for every carbon credit we capture and sequester allows us to ensure that the buyers of our credits can see the full lifecycle of each credit created – providing full transparency and traceability." Northern Trust announced the formal launch of The Northern Trust Carbon Ecosystem in September 2024 with the first live transactions. The ecosystem connects institutional buyers with project developers focused on climate solutions to avoid, reduce, or remove greenhouse gases in the atmosphere. Supported by private ledger digital blockchain technology, buyers can purchase digital carbon credits directly from project developers and retire these against their emissions footprint. Northern Trust acts on instruction to record, transfer and settle digital carbon credits in its capacity as the designated custodian. The Northern Trust Carbon Ecosystem is powered by Northern Trust's digital assets platform, Northern Trust Matrix Zenith™. The latest milestone in Northern Trust's asset servicing innovation journey, Northern Trust Matrix Zenith supports key digital asset lifecycle events from asset creation, trading, pricing and custody to reporting. The Northern Trust Carbon Ecosystem is offered through The Northern Trust Company, Chicago. About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2024, Northern Trust had assets under custody/administration of US$16.8 trillion, and assets under management of US$1.6 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn. Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at View source version on Contacts Media Contacts Europe, Middle East, Africa & Asia-Pacific: Camilla Greene+44 (0) 20 7982 2176Camilla_Greene@ Simon Ansell+ 44 (0) 20 7982 1016sa777@ US & Canada:John O'Connell+1 312 444 2388John_O'Connell@ Sign in to access your portfolio
