Open Forest Protocol Partners with Flowcarbon to Provide Open MRV
With forestation efforts at a precipitous point worldwide, knowledge sharing about methods to keep carbon in the ground is more urgent than ever. At COP26 in Glasgow in November 2021, the Glasgow Declaration on Forests states, “Land use and land management are responsible for an estimated 23% of global anthropogenic greenhouse gas emissions and that any plausible scenario to limit global warming to 1.5 °C by 2100 must maintain and expand tree cover.” Collaboration among all groups focused on this challenge is essential to supporting a positive change in climate and the expansion of ecological regeneration.
Open Forest Protocol (OFP), an open platform bringing the first open and free measurement, verification, and reporting (MRV) system to any forest project anywhere on earth, is partnering with Flowcarbon, a leading provider of carbon removal and reduction solutions, to provide an open MRV system that creates a foundation of natural value, starting from truth. This partnership will allow both companies to work towards a connected backend among climate blockchain protocols that will help enable more efficient and scalable climate actions.
This partnership presents an opportunity to leverage OFP’s innovative MRV approach for Flowcarbon’s commitment to supporting reforestation, afforestation and conservation and to further developing a reliable, transparent market that ascribes value to nature.
“MRV is critical when it comes to showing progress on climate action and unlocking access to climate finance. These systems are highly complicated and require the highest accounting standards and trust. We are excited to announce this partnership with the Open Forest Protocol, which is a combined effort to enhance MRV by bringing it on-chain. Through digital technologies, we will streamline data collection to ensure transparency of impact and efficiency in cost and time for carbon projects.” Dana Gibber, CEO at Flowcarbon.
“Our partnership showcases the power of building and connecting different pieces of a puzzle that will form a future collective economy. Interoperability is a key element of blockchain and OFP is eager to demonstrate what a new MRV standard has the power to create alongside Flowcarbon robust structure.” Fred Fournier, CEO at Open Forest Protocol.
Flowcarbon is a pioneering climate technology company whose mission is to make carbon markets accessible and transparent, enabling the efficient and early flow of capital to be invested directly into projects that combat climate change. Flowcarbon is committed to driving real impact for people, biodiversity, and the planet. To learn more about our work, visit our blog.
About Open Forest Protocol:
Open Forest Protocol (OFP), is an open platform allowing forest projects of any size, all over the world, to measure, report and verify their forestation data. Through OFP, individuals, groups, NGOs, entrepreneurs and even governments create transparent, immutable, proof-of-impact data that is comprehensively verified by a network of independent experts. OFP is creating the foundation for more inclusive, more scalable, and more data-backed financing mechanisms for nature-based climate solutions.