Creating Carbon Removal Credits is a 3-step process
ONCRA is open source and based on established and scientifically proven methods. We follow a strict 3-step process of quantification, verification and certification. This process can take from weeks to months depending on the number of applications we receive. Also transparency on the part of the applicant and completeness of the information and data provided determine the speed of the process. Finally it is important to know that ‘Know-Your-Costumer’ background checks are performed.
Quantify
Use our open calculation estimation model to gather your real life data and work out your business case. Do not hesitate to contact us if you need help.
The more accurately you quantify your compensation, the greater the chance that your project will be positively assessed.
Certify
Enter your project data to receive a draft verification report. This report will be independently reviewed by us. You may use all established accounting methods available in our repository.
After a positive verification, our team will contact you to set up an ONCRA Carbon Accounting Agreement (OCAA).
Verify
All provided data will be empirically verified, and an MRV Protocol will be followed to keep track of your actual removal.You must track sales of credits on our ledger, but can sell them anywhere. And only after you sell credits, you pay verification costs through a transaction fee of max 7% on the sales price.
“By performing a ‘doughnut check’ we evaluate if the project operates within the planetary boundaries. Multiple benefits like more biodiversity, clean water, meaningful jobs, are examples of how ONCRA CRCs tick many SDGs and results in a holistic approach.”
Carbon accounting certification diagram
The schematic overview below shows the different steps and components of the verification, certification and reporting process. All claims made are verified and administered. After certification, the claims are followed up and reported.
