No Double Counting

The OCP does not allow any double counting of OCP carbon credits, and has risk mitigation measures in place to manage these risks.

Relevant Definitions

For more terms, see the Glossary.

Term	Definition
Double Counting	A situation in which a single GHG emission reduction or removal is counted more than once towards achieving mitigation targets or goals. Double counting can occur through double issuance, double use, and double claiming.
Double Issuance	A type of double counting in which more than one carbon credit is issued for the same emission reduction or removal. Double issuance leads to double counting if more than one of these carbon credits is claimed towards achieving mitigation targets or goals.
Double Use	A type of double counting in which a single carbon credit is claimed twice towards achieving mitigation targets or goals.
Double Claiming	A type of double counting in which the same GHG emission reduction or removal is claimed by two different entities towards achieving mitigation targets or goals: once by a country, jurisdiction or other entity that reports lower GHG emissions or higher GHG removals for the purpose of demonstrating achievement of a mitigation target or goal, and once by the entity retiring the carbon credit for the purpose of making a GHG emission offsetting claim.

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Avoiding Double Issuance

• The OCP only issues one carbon credit for one tonne of CO₂e removed or avoided in the atmosphere.

• No double registration: We do not allow Project Developers to propose a project on the OCP if they are already in the process or planning to register the same project on another registry. Any PD willingly in breach of this rule will have their account banned for 1 year. Two breaches = permanent ban

• No overlapping boundaries: As part of Project Validation, the VVB will confirm that the project boundaries have been documented accurately. Projects using a 'Land Use' methodology must submit geospatial information; other project sectors must submit location information for each project location (facilities, headquarters etc.)

• We are a member of the CAD Trust meta-registry to confirm no double issuance, use, or 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 occurred.

• 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.

Avoiding Double Use

• Each credit is 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.

• Each credit can only have one account owner and one beneficial owner at any given time.

• Once a credit has been retired or canceled, this status and the account & beneficial owner cannot be changed again.

• All transfers and retirements are tracked on the 'Activity' tab of the OCP Registry.

Avoiding Double Claiming

• In addition to the provisions against Double Issuance and Double Use, Article 6 and CORSIA-eligible projects must guarantee against Double Claiming.

• Double Claiming occur when a single emissions reduction or removal outcome is claimed by both the Host Country toward its Nationally Determined Contribution (NDC) under the Paris Agreement, and by an airline operator or other buyer for a separate compliance or voluntary purpose.

• See Certification and Labels > CORSIA for the full policy and procedure for obtaining a Corresponding Adjustment from a Host Country and the Project Developer and OCP’s responsibilities to ensure no Double Claiming occurs.