In the two decades since the Kyoto Protocol laid the ground rules for carbon trading, demand for high-integrity, scalable, and transparent carbon markets has only increased. The World Bank estimates that carbon markets could save an estimated $250 billion per year in implementing climate actions by 2030, with a potential market value of upward of $50 billion.
Open Forest Protocol and Neutral are partnering up to make transparent, truthful, and data-backed carbon markets accessible for all.
Open Forest Protocol (OFP), a pioneer in digital, blockchain-based Measurement, Report, and Verification for any forest project on earth, and Neutral, a next-generation exchange for environmental assets such as tokenized carbon credits, renewable energy credits, and carbon forward contracts, are joining forces to redefine the landscape of carbon markets.
Neutral's strength as a reliable spot exchange coupled with OFP's breakthrough decentralized Measurement, Reporting, and Verification (dMRV) system sets the stage for a powerful collaboration. With this partnership, Neutral can source high-quality credits verified by OFP's dMRV technology. OFP's data will also be introduced to Neutral's platform, making the qualitative information on carbon credits accessible to a larger audience.
This partnership aligns both parties' missions to contribute to global climate change mitigation efforts by combining our innovative technologies and industry expertise to drive impactful change.
We are excited to partner with the team and technology at Neutral to connect the Open Forest Protocol dMRV system with the Neutral exchange, bringing digital transparency to every level of the carbon supply chain. Together, we can open access to sustainable financial mechanisms for communities and their forest projects worldwide. - Fred Fournier, CEO of Open Forest Protocol
Applying decentralized data verification to carbon credit issuance is one of the most promising use cases for blockchain technology in environmental markets. We're excited to work with and support OFP-issued credits with our advanced trading infrastructure, which improves pricing and makes trading more efficient. - Farouq Ghandour, CEO of Neutral
About Open Forest Protocol
Open Forest Protocol (OFP) is an open platform allowing forest projects of any size worldwide to measure, report and verify their forestation data. Through OFP, individuals, groups, NGOs, entrepreneurs, and even governments create transparent, immutable, proof-of-impact data comprehensively verified by a network of independent experts. OFP is building the foundation for more inclusive, scalable, and data-backed financing mechanisms for nature-based climate solutions.