Open Forest Protocol (OFP), an open platform whose objective is to transparently measure, verify and fund forestation projects with blockchain technology has announced the launch of a climate action project. The platform intends to accelerate climate action by on-boarding projects on the carbon neutral NEAR Protocol.
This announcement signifies the first open and free Measurement, Reporting and Verification (MRV) services accessible to forestation projects.
“Open Forest Protocol provides a clear pathway for re-inventing and rapidly scaling reforestation and forest management, nature based carbon markets, and our relationship with nature. But in reality, this core logic is actually only the mothership of an entire fleet of services that our ecosystem will be able to offer in the future- all subsumed beneath a single token- the $OPN that will be launched later this year,” said Michael Kelly, Co-Founder of OFP.
According to Frederic Fournier, the CEO and Co-Founder of OPF, the platform is thrilled to be working with NEAR on their world changing mission to make a tangible contribution towards tackling climate change.”
OFP’s Open MRV can possibly open up carbon financing for forests across the world with the potential of bringing high quality, auditable carbon credits to countries, companies and institutions looking to meet their emissions targets.
“Technology has a clear role to play in ensuring sustainability for future generations,” said Marieke Flament, CEO of the non-profit NEAR Foundation which oversees development and funding for the creators of the NEAR Protocol.
“This collaboration with Open Forest Protocol reiterates our commitment to ecological stewardship. This has been demonstrated not only towards our own carbon neutrality but also through supporting projects that are strengthening the global ecosystem for centuries to come.”