OFP Presents at the 2022 International Forest Business Conference
IFBC by FBA: A Recap
Earlier this month, Forest Business Analytics (FBA) held the biennial International Forest Business Conference (IFBC) in Poland. This two-day conference brought together actors from every tier of the forest and timber trade to discuss megatrends, barriers, innovations, and frontiers in and around the industry. It allowed for idea integration as well as cross-industry sharing, connecting, and networking.
Anchored around the theme “New Forest Business Frontiers”, IFBC 2022 touched on topics from sustainability to growing action in the biodiversity space, low-economy bioeconomics, and everything in between.
Represented by CEO Fred Fournier and Head of Validator Business Development Rado Dragov, Open Forest Protocol (OFP) and our pioneering Measurement, Reporting, and Verification (MRV) system was introduced to the diverse palette of attendees. With this methodology, we aim to tap into evolving trends that are shaping the industry.
Fred presented on how OFP is bridging forestation measurement with blockchain technology to build an innovative and open-source MRV platform. OFP leverages remote sensing imagery and utilizes a network of validators to verify and immutably store forest data in a decentralized and accessible format. By presenting this to a largely forest business-focused audience, we aimed to introduce the potential of blockchain technology for climate action.
Networking, and creating synergy
Throughout the conference, Fred and Rado entertained interest in OFP from multiple attendees, including forestry analysts, asset management firms, tree-planting organizations, regenerative insurance companies, and even schools. Potential Project Operators and Validators emerged from the discussions, with interest in our MRV solution reaching new heights.
Key Takeaways
- Investing in nature-based solutions can be just as rewarding financially as it can be for the environment and future generations. For the myriad of opportunities that present themselves, only innovators can truly push the frontiers and explore them to their maximum potential.
- Increased engagement around biodiversity and the development of initial methodologies indicates that the space is gaining traction, and grabbing more attention.
- The forest market is still catching up to emerging technologies, creating an opportunity for innovators to disrupt with groundbreaking solutions.
As more companies turn to carbon offsets to reach net-zero in their emissions, OFP’s open MRV platform will play a vital role through the monitoring of forests and the verification of their data.
