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A cornerstone of carbon markets has been the Monitoring, Reporting, and Verification (MRV) of reductions in greenhouse gas emissions. MRV is a multi-step process to measure the emission reductions achieved by a specific mitigation activity, report the findings to an accredited third party, and verify the reductions so they can be certified, and carbon credits can be issued. Currently, the process is often costly, time-consuming, and susceptible to error, as it relies on manual information recording or in-person surveys. But increasingly, digital technologies are being used to streamline data collection, processing, and quality control in MRV processes.

The World Bank developed two jurisdictional assessment tools under the Mitigation Action Assessment Protocol (MAAP) – the Domestic Carbon Pricing Instruments (MAAP-CPI) and the International Transfer Readiness (MAAP-ITR) in 2020.