A coalition of 30 companies, non-profit organizations, and public institutions has launched an initiative to advance carbon markets. This initiative, named Carbon Data Open Protocol (CDOP), aims to develop a common framework to harmonize data related to carbon credit projects and the credits themselves. The protocol seeks to establish greater transparency and reduce friction in the exchange of information, thereby contributing to market efficiency.
The organizations behind the CDOP include The Global Carbon Market Utility (GCMU), Sylvera, RMI, and S&P Global Commodity Insights. These stakeholders, experts in market infrastructure, are committed to creating clear rules for the collection, processing, and exchange of data concerning carbon projects. The lack of common standards has hindered collaboration, making the evaluation of carbon credits complex and costly.
The absence of universal protocols has fragmented the market, limiting its potential as a driver of climate action. This new framework aims to address this issue by ensuring reliable and standardized data, necessary to increase market integrity and its scope.
The central role of CDOP in ensuring carbon market integrity
CDOP has been designed to fill existing gaps in transparency and data sharing. By establishing unified standards for describing carbon projects and credits, the protocol will allow for greater interoperability between various market players, both public and private. In doing so, it will facilitate investment and improve the evaluation of emission reductions.
The protocol will also complement existing initiatives, such as those from the Climate Action Data Trust (CAD Trust) and the Integrity Council for the Voluntary Carbon Market (ICVCM), while aligning with emerging frameworks under Article 6 of the Paris Agreement.
Growing support for the adoption of common standards
The initiative has garnered support from many influential actors in the sector, including Puro.earth and Verra, who emphasize the importance of standardizing data to restore trust in the markets. Additionally, CDOP has received recognition from the World Bank, which views it as a crucial example for improving interoperability and transparency in carbon markets.
The adoption of common standards is expected to facilitate informed decision-making in carbon credit transactions and enable smoother integration of existing data systems. This evolution aims to strengthen the carbon market’s effectiveness in addressing climate change.
First protocol expected at New York Climate Week
The initial versions of CDOP are expected to be presented during New York Climate Week at the end of 2025. Throughout the year, a group of experts will work to refine the proposed framework, focusing on governance, data use, and the evolution of the proposed schema.
This protocol is designed to be a public good, an open framework that will allow all carbon market players to collaborate more harmoniously. The goal is to achieve standardization that benefits not only the industry but also the environment by maximizing the impact of emission reductions.
