Annual Audit Process
Last updated
Last updated
To make sure the OCP and all methodologies, projects and users within are operating at the highest level of integrity and with the best available science & data, we run ad-hoc and annual audits of everything on the platform.
Annual audit of OCP platform, employees & governing body, run by a third party auditing firm
Focused on Bribery, corruption & money laundering, based on ISO 9001 (International Quality Management Systems) and ISO 31000 (Risk Assessment)
Findings are assessed by the OCP Board; next steps reported back + implemented by OCP team.
Process + Findings will be published in this knowledge base + at ocp.earth
Next audit: December 2024
Every year, a panel of experts (internal + external), run by OCP employee, will assess all published methodologies on a three part scale: all good / check up-to-date / critical flag (over-crediting or additionality).
All methodology require a ‘check up-to-date’ at least once every 2 years; if they reach this boundary, they automatically get assigned this category
Critical flag methodologies are put ‘on pause’ - no new projects can use them; no credits for existing projects can be issued until review is complete
If the methodology requires an update, an expert panel is reassembled to review + approve again. They vote on whether existing projects will need to be stopped and re-submitted, including new validation.
If the methodology fails the audit, it will be marked as ‘Cancelled’ and a summary of the cancellation reason will be added. It will then be unable to be used on the OCP platform. Any ongoing projects using it will be put on hold and will have to reapply using another methodology. We will fully delete it off the system, as we believe there is enormous value in documenting issues with the VCM and learning from mistakes.
Methodology are checked for:
Continued conservativeness in baseline and emission reduction/removal calculations, to ensure no over-crediting
Any change in regulation / law that may have changed impact additionality
Scientific advances that may have changed initial uncertainties or additionality, permanence, or other parts of the methodology
and other factors relevant to the sector
Additionally, anyone can submit an anonymous or non-anonymous complaint or flag for updates via our Independent Grievance/Complaint process, which is open at all times. This will spark the immediate review of any methodology or project.
Results + actions shared and approved by governing board and published in this handbook and at ocp.earth
Next audit: December 2024
Every year, a panel of experts (internal + external), run by OCP employee, will assess all project categories on a three part scale: all good / review / critical flag
This includes checking against meta-registries + other registries for any double-counting
Independently and separately, Validation companies perform their own audit of both Validators and Projects they have assessed
Renewal of crediting period: EITHER (a) full new project or (b) at the least, reassessment of baseline + review of conditions & barriers overcome using carbon credit revenues + whether credit revenues still required to overcome them
Additionally, anyone can submit an anonymous or non-anonymous complaint or flag for updates via our Independent Grievance/Complaint process, which is open at all times. This will spark the immediate review of any methodology or project.
Results + actions shared and approved by governing board and published in this handbook and at ocp.earth
Next audit: December 2024
Experts, Validators and Data Providers must provide or confirm up-to-date information including company + Conflict of Interest declaration annually
Audit team reviews information against public sources (LinkedIn, company websites, accreditation lists) - any red flags, the account is put on pause (no further work can be done on the OCP platform) and full review is completely in collaboration with individual or company
One minor strike = account suspended for 1 year; two minor strikes or major strike = banned permanently
Minor or major strikes are publicly recorded on user page. Banned or paused users still have public profile on platform with details on transgression
Results + actions shared and approved by governing board and published in this handbook and at ocp.earth
Next audit: December 2024
