No Double Counting

Double Claiming, Use and Issuance

Double issuance = issuing more than one credit for the same activity

Double use = further transfer, retirement, or cancellation of a credit after it has been retired or cancelled

Double claiming = when two or more parties claim a climate benefit from the same emission reduction or removal

• Member of CADT meta-registry, to track double issuance, use, and counting

  • Credits are issued with a unique serial number with data stored on blockchain to ensure traceability and that each credit only corresponds to the specific emissions within the project boundary. Third party verification and annual audits are conducted to ensure double issuances have not occured.

  • Credit ownership is traced and stored on blockchain to ensure that the credit is not traded again after it has been retired (which would lead to double use).

• We do not allow projects to register on the OCP that have already been registered under other programs, or that have accounting boundaries overlap with other projects. If you are going through two processes at once, as soon as one is approved, the other one must immediately be stopped

  • Project developers must sign a declarance of exclusion stating in the project proposal flow stating that they have not registered their project on any other registry in order to prevent double issuance.

• We currently do not allow projects overlapping with mandatory domestic mitigation schemes to be registered on the OCP, due to the potential for benefit duplication.

• Any PD willingly in breach of this rule will have their account banned from 1 year. Two breaches = permanent ban

• Once a credit has been retired or cancelled, the state or owner cannot be changed