A coalition of 30 leading businesses, nonprofits, and public sector organizations has launched the Carbon Data Open Protocol (CDOP), a collaborative initiative to develop a standardized protocol for carbon market data.
This effort, led by The Global Carbon Market Utility (GCMU), Sylvera, RMI, and S&P Global Commodity Insights, aims to harmonize definitions and rules governing carbon crediting projects and carbon credits across various markets, geographies, and activity types.
In a joint statement on Tuesday, Sylvera and its partners said that the absence of a universally accepted protocol for project and credit data currently in the voluntary carbon market effectiveness in driving meaningful climate action, thus limiting its potential to drive meaningful climate action.
To address these challenges, the CDOP seeks to promote standardization, transparency, and interoperability, ultimately strengthening the integrity and scalability of carbon markets.
It builds on existing frameworks such as the Climate Action Data Trust, the Integrity Council for the Voluntary Carbon Market, and the World Bank’s Carbon Market Infrastructure Working Group.
Relevant: Sylvera And BlueLayer Revolutionize Carbon Markets With Live Project Data Platform
Transparency, rigorous standards, and, most importantly, high-quality data are crucial in order to guarantee that each traded credit represents a genuine and measurable reduction in emissions, said Sylvera’s CEO, Allister Furey.
In turn, Leanne Todd of S&P Global Commodity Insights expressed enthusiasm for this collaboration and highlighted the expertise of the entities involved at this stage, extending an open invitation to other interested parties to join.
The committee will spend 2025 refining principles and developing a governance framework, and the first version of the protocol is expected to launch at New York Climate Week, to be held at the end of June.
According to Chris Canavan, CEO of GCMU, the Carbon Data Open Protocol will contribute to high-quality, standardized data and thus foster consensus across carbon markets.
Support for CDOP is growing, with endorsements from organizations such as Climate Action Data Trust, Puro.earth, Verra, and Isometric.
