Puro.earth, the world’s leading carbon crediting platform for engineered carbon removals (CDR), is partnering with Xpansiv to expand the market for carbon removal credits and strengthen net zero programs. Xpansiv, backed by Nasdaq, is the dominant market infrastructure for the global energy transition.
This partnership between the two market platforms is a significant development in the carbon removals credit market. As part of the partnership, Puro.earth’s CO2 Removal Certificates (CORCs) will be added to the list for trading on Xpansiv’s spot marketplace, CBL. This marketplace is the largest spot exchange for trading voluntary carbon credits, renewable energy certificates (REC), and other environmental commodities.
Puro.earth has a robust and diverse supplier base, providing buyers with a reliable source of quality carbon removal credits. The platform currently delivers carbon removal services to major corporations such as Shopify and Microsoft. Last year, Puro.earth launched Puro Registry, a public registry dedicated to CORCs.
Xpansiv’s CBL offers a centralized and transparent spot exchange and post-trade platform, with hundreds of market participants transacting on it. Xpansiv is also a leading provider of registry infrastructure for energy, power, and environmental markets. The partnership with Puro.earth allows participants to include carbon removal credits in their portfolios, highlighting the importance of collaboration in scaling up the market for carbon removal credits in the private sector’s net zero programs.
Carbon removals are becoming increasingly important in companies’ decarbonization strategies, particularly for hard-to-abate sectors such as steel and cement. Puro.earth’s guiding principle is to create undisputable methodologies for engineered carbon removals. The platform currently has over 110 suppliers of carbon CORCs, with 600 firms in preparation for certification.
Engineered carbon removals, also known as negative emissions technologies, refer to technologies and methods designed to actively remove CO2 from the atmosphere. Unlike natural carbon removal processes, engineered carbon removals are man-made processes aimed at mitigating the impacts of climate change.
Last year, Nasdaq launched three carbon removal price indexes based on Puro.earth CORCs. Puro.earth Standard establishes carbon credit methodologies for processes that remove CO2 from the atmosphere for at least 100 years. The company certifies suppliers that run these processes and issues digital, tradable carbon removal credits into Puro Registry. The company has recently updated its Terrestrial Storage of Biomass methodology and is open for comments or insights.
The partnership between Xpansiv and Puro.earth is crucial in enhancing transparent price discovery and liquidity formation, enabling a more sustainable and confident engagement with carbon removal efforts and credits. It will contribute to the growth of the market for carbon removal credits and support the private sector’s net zero programs.