Carbonfuture, a groundbreaking platform for carbon removal credits, has announced a partnership with Puro.earth, a prominent carbon removal standard and registry. The aim of this collaboration is to enhance the scalability and quality of carbon dioxide removal (CDR) initiatives. By joining forces with Puro.earth, Carbonfuture will expand its ecosystem of third-party standards for carbon removal and integrate Puro.earth certified projects into its unique Trust Infrastructure.
Carbonfuture is at the forefront of establishing trust in carbon removal through its Trust Infrastructure, which provides essential tools and technological infrastructure to scale CDR effectively. The company operates based on a Trust Framework that outlines five key dimensions of trust: transparency, quality, impact, innovation, and collaboration. Carbonfuture’s Trust Infrastructure consists of two vital components: Carbonfuture MRV+ and Carbonfuture Marketplace.
Carbonfuture MRV+ offers a comprehensive end-to-end experience for CDR suppliers, encompassing project support services, due diligence, and tracking. On the other hand, Carbonfuture Marketplace allows CDR suppliers to connect with buyers seeking verified, high-quality carbon removal credits. This marketplace is built on data-driven tracking and third-party certification standards.
The integration of Puro.earth into Carbonfuture’s Trust Infrastructure is of great significance for both parties. Antti Vihavainen, CEO of Puro.earth, emphasized the additional transparency provided by Carbonfuture’s CDR Tracking, which confirms alignment with the Puro Standard methodology requirements. He expressed delight at the integration of Puro.earth certified projects into the Carbonfuture Marketplace. This integration grants Puro suppliers access to the largest carbon removal marketplace, enabling them to find buyers for their verified CDR credits.
The Puro Standard for engineered CDR in voluntary carbon markets follows robust, science-based quantification methodologies for various carbon removal technologies, including biochar, enhanced rock weathering (ERW), and direct air capture. The Puro Registry issues CO2 Removal Certificates (CORCs) that facilitate transparent tracking of credits from issuance to retirement. The endorsement of the Puro Standard by the International Carbon Reduction and Offset Alliance (ICROA) enhances buyer confidence, making it the first endorsed standard for durable CDR.
In February 2022, Nasdaq introduced three carbon removal price indexes based on Puro.earth CORCs. Recently, the largest open data platform for CDR reported a 437% increase in carbon removal purchases for the first half of this year compared to the entire year of 2022, with Microsoft being the top buyer.
The collaboration between Puro.earth and Carbonfuture is driven by their shared mission to advance carbon removal technologies. By combining Carbonfuture’s technological infrastructure, which ensures trust in the carbon removal process, and Puro.earth’s leading CDR Standard, along with its 120+ registered CDR suppliers, the partnership aims to make significant progress in this field.
To date, Puro.earth has retired 197,000 tons of CO2 at a rate of 174 EUR per ton. Hannes Junginger-Gestrich, CEO of Carbonfuture, stated that their new setup will enable carbon removal suppliers to seamlessly navigate the certification process and expand their market. He also highlighted the assurance it provides to buyers when purchasing carbon removal credits.
The partnership between Carbonfuture and Puro.earth involves two key elements. Firstly, the Carbonfuture Marketplace will facilitate the sale of CORCs. Secondly, by integrating the Puro Standard into Carbonfuture’s CDR Tracking, suppliers can track their CDR efforts from carbon removal to storage, ensuring the reliability and quality of the issued carbon removal credits. Carbon removal suppliers will receive guidance on how to certify their projects according to the Puro Standard through Carbonfuture’s Carbon Removal Supplier Services.
Last month, Puro.earth merged with Xpansiv, a significant move aimed at scaling carbon removals. These partnerships highlight the importance of collaboration among key players in the CDR industry, promoting transparency and trust. By working together, Carbonfuture and Puro.earth are advancing carbon removals and offering a solution to combat climate change and achieve net-zero emissions.