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 and Verification
      • dMRV: Digital 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
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  1. REGISTRY
  2. Credit Issuance Flow

Retirement Information

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Last updated 1 month ago

Retirement Process

  • Any user who has undergone KYB and has credits in their inventory can retire credits.

  • Retiring credits refers to sending credits/tokens to a wallet from which they can not be retrieved. This means they can no longer be sent to anyone else, and the benefit is tied to the last owner.

  • The beneficiary and retirement purpose must be recorded and displayed in the OCP registry in order for credit to be retired. Beneficiaries undergo KYB, as well.

  • All associated retirement information (i.e., beneficiary, credit quantity, and any additional ownership transfers) are made publicly available in the registry.

  • In the event that credits are found to be erroneous, either by grievance submission or during an annual audit, retired credits will be canceled and cannot be used anymore.

    • [See for more information on erroneous issuance]

Mitigating Project Risk: Insurance and Buffer Pool