The Open Carbon Protocol (OCP) has announced a strategic partnership with Kita to improve the credibility and integrity of carbon credit transactions.
The primary goal of the partnership is to enhance the transparency of carbon credit projects by integrating Kita’s risk management expertise into the OCP platform, according to InsurTech Insights.
This partnership will add credibility and security to the voluntary carbon market, promoting better-quality projects and increasing stakeholder trust.
By joining forces with the OCP, Kita will provide vital insights and risk assessments, helping to safeguard carbon credit issuance and the projects that rely on them.
As part of the collaboration, key features include buffer-as-a-service and the integration of Kita’s services directly into the OCP platform through an API.
Kita will also take on an advisory role in managing buffer pool contributions within OCP’s methodologies. This will involve regular risk assessments, ensuring the buffer pool’s risk management framework remains both effective and efficient.
Through this API integration, OCP participants will gain seamless access to Kita’s expertise, while Kita will receive access to critical project data, enabling them to assess and manage the risk profiles of individual carbon projects more efficiently.
This data sharing is set to benefit both organisations by fostering better collaboration and improving the overall integrity of carbon markets.
The partnership reflects the growing need for trust, transparency, and integrity in the carbon credit sector. By pooling their resources and expertise, the OCP and Kita are setting new standards for quality and accountability in the carbon market.
Thomas Annicq from oneshot.earth expressed enthusiasm about the partnership, stating, “Our collaboration with Kita represents a significant leap forward in creating a more robust, transparent, and efficient voluntary carbon market. By combining oneshot.earth’s innovative Open Carbon Protocol registry platform with Kita’s risk management and insurance expertise, we’re setting new standards for quality and trust in carbon credits.”
Natalia Dorfman from Kita highlighted the importance of the partnership: “Our partnership with OCP highlights the commitment of both organisations to improving integrity and confidence across carbon markets.” She added, “Kita’s deep understanding of risk management, coupled with OCP’s independent and innovative registry model, brings greater rigour and protection to carbon credit transactions. In turn, this will drive significant investment towards high-quality carbon solutions while safeguarding project stakeholders.”
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