Open Carbon Protocol Handbook
  • Welcome to the Open Carbon Protocol
  • The OCP Process Overview
  • Back to the OCP
  • GOVERNANCE
    • OCP Governance Structure
      • OCP Board
    • Conflict of Interest
    • Annual Audit Process
    • Stakeholder Engagement & Complaints
    • Business Model & Financial Transparency
    • OCP Sustainability: Environmental and Social Strategy
    • KYB & Anti-Money Laundering Policy
    • Anti-Bribery and Corruption Policy
  • METHODOLOGIES
    • Methodology Development, Feedback & Approval
      • Underlying Credit Value & Uncertainty
      • Methodology Demo Videos
      • OCP Methodology Requirements
    • The Expert Community
  • PROJECTS
    • Project Proposal Flow
      • Project Proposal and Validation Demo Videos
    • Third-Party Validation
      • MRV: Monitoring, Reporting and Verification
    • Safeguards, Co-Benefits & SDGs
    • Mitigating Project Risk: Insurance and Buffer Pool
  • REGISTRY
    • The OCP Registry Infrastructure
      • Opening and Closing an Account
    • Credit Issuance Flow
      • Retirement Information
    • No Double Counting
    • Registry Information
Powered by GitBook
On this page
  1. REGISTRY

Credit Issuance Flow

PreviousOpening and Closing an AccountNextRetirement Information

Last updated 4 days ago

  • Credits only get issued ex-post after monitoring events take place, which has resulted in verified data on emissions avoided or removed.

    • Once data has been confirmed by the OCP or relevant third parties, carbon credits equal to the calculated emission reduction or removal will be issued into the Developer's inventory of carbon credits.

  • We require KYB for all owners of credits, both for internal governance and tracking.

  • Each credit has a real-time status displayed:

    • Active (after a credit has been validated and issued and is available for transfer)

    • Retired (after a credit has been retired; no further action can be taken)

    • Cancelled (if a project has been removed or stopped on the OCP registry, no further action can taken, and it cannot be claimed as part of an offset or BVCM claim)

  • Anyone can trace a credit throughout its lifecycle- including ownership details, whether it has been validated, when it was retired, transferred, or canceled.

Credit Transfer

  • Any User with carbon credits in their inventory can transfer those carbon credits to another account by requesting a transfer on the OCP platform.

  • The project developer sets the price of the credits upon requesting a transfer.

  • These credits will be given the status 'on hold' during the transfer process, and cannot be transferred or retired until the process is completed.

  • The first transfer of credit is subject to a transaction fee based on the credit transfer quantity and price sold. This fee must be paid to the OCP before the credit is transferred to the new inventory.

  • In order to receive the transfer, the buyer must have a Known Account.

For more information, see the KYB explanation from our KYB provider, Middesk.