UK carbon removal registry and science platform Isometric has raised $25m in a seed funding round led by Lowercarbon Capital and Plural. The funds will be used to hire more scientists and engineers to continue building Isometric’s public registry for verified carbon removal credits, which it claims is the first of its kind to list only high-quality, long-duration credits. Carbon registries such as Verra, Gold Standard, American Carbon Registry and Climate Action Reserve have faced criticism in recent years due to lack of transparency and misaligned incentives. Isometric aims to instil confidence in the market by transparently reporting data and verification results on its science platform and publicly accessible registry. The company’s platform helps quantify the net amount of carbon removed by various processes and enables the verification of carbon credits. Isometric has been developing protocols for multiple carbon removal suppliers and is planning a public consultation on its science platform later this year. Its forthcoming registry will exclusively feature credits that have been ex-post verified, allowing the public to review the evidence and calculations behind each credit. Isometric charges buyers a single flat fee per purchase to cover all expenses related to protocol development, verification and credit issuance.
ICE is preparing to introduce a futures market for carbon credits under CORSIA, which will focus on reducing airline emissions.
Intercontinental Exchange (ICE) announced plans to launch a physically delivered futures contract for carbon credits eligible for use by the...