Open Earth Foundation’s Ocean Program has designed Marine Ecosystem Credits (MECs) for Conservation Finance, as described in a whitepaper published by the Program.
The whitepaper outlines a framework for a digitally native class of marine ecosystem credits, designed primarily as financial instruments to support funding at scale the protection and restoration of ocean ecosystems.
The credit mechanism is conceived with principles of scientific integrity, social equity, and scalability. They are designed for fully digital implementations, considering advanced monitoring, reporting and verification practices, tokenization, and the use of integrated models for independent claim verifications.
The initial types of credits covered by this framework include marine biodiversity, eutrophication, marine plastics, and blue carbon.
Open Earth Foundation developed the methodology for Marine Ecosystem Credits, and the Biodiversity Credit for Oceans. But we are not the ‘issuers’ of them. So it would be a private or public developer that can use the methodology for it. We collaborate with Regen.network on the implementation of these credits.
