Puro.earth, the leading carbon crediting platform, and Xpansiv, the market infrastructure for the global energy transition, have announced a partnership to expand the market for carbon removal credits and strengthen net zero programs. As part of the partnership, Puro.earth’s CO2 Removal Certificates (CORCs) will be added to the list of commodities traded on Xpansiv’s spot marketplace, CBL.
Puro.earth is known for its diverse supplier base, which provides buyers with a reliable source of quality carbon removal credits. The platform currently serves some of the world’s biggest corporations, including Shopify and Microsoft. Last year, Puro.earth launched the Puro Registry, a public registry dedicated to CORCs.
Xpansiv’s CBL is the largest spot exchange for trading voluntary carbon credits, renewable energy certificates, and other environmental commodities. The centralized and transparent platform facilitates transactions between hundreds of market participants. Xpansiv is also a leading provider of registry infrastructure for energy, power, and environmental markets.
Both companies expressed their excitement about the partnership and the opportunity to include carbon removal credits in their portfolios. Puro.earth’s CEO, Antti Vihavainen, emphasized the importance of scaling up the market for carbon removal credits in the private sector’s net zero programs. He also highlighted Xpansiv’s central position in the carbon markets as critical for enhancing transparency, price discovery, and liquidity formation.
Carbon removals are becoming increasingly important in companies’ decarbonization strategies, particularly in hard-to-abate sectors like steel and cement. Puro.earth focuses on creating methodologies for engineered carbon removals, referring to the set of technologies and methods designed to actively remove CO2 from the atmosphere. Unlike natural carbon removal processes, engineered carbon removals are man-made processes to mitigate climate change impacts.
Nasdaq-backed Puro.earth has already launched three carbon removal price indexes based on its CORCs. The company’s Puro.earth Standard establishes carbon credit methodologies for processes that remove CO2 from the atmosphere for at least 100 years. Puro.earth certifies suppliers that run these processes and issues digital, tradable carbon removal credits into the Puro Registry.
In conclusion, the partnership between Puro.earth and Xpansiv is expected to have a significant impact on the carbon removal credit market. It will enhance transparency, price discovery, and liquidity formation, enabling a more sustainable and confident engagement with carbon removal efforts and credits.
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