Carbonfuture, the pioneering end-to-end platform for carbon removal credits, has partnered with Puro.earth, a leading carbon removal standard and registry. Their goal is to further scale up durable and high-quality carbon dioxide removal, commonly known as CDR.
Partnering with Puro.earth will allow Carbonfuture to grow its ecosystem of 3rd-party standards for carbon removal. It will also enable the company to integrate Puro.earth certified projects into its unique Trust Infrastructure.
From Gate to Grave: Pioneering Trust in Carbon Removal
As the Trust Infrastructure for durable carbon removal, Carbonfuture is providing crucial tools and technological infrastructure needed to scale CDR with trust. The company works through a Trust Framework outlining the 5 key dimensions of trust – transparency, quality, impact, innovation, and collaboration.
Carbonfuture’s Trust Infrastructure includes two essential components: Carbonfuture MRV+ and Carbonfuture Marketplace.
Carbonfuture MRV+ provides a coherent end-to-end CDR supplier experience, from project support services to due diligence to tracking. Carbonfuture Marketplace enables CDR suppliers to find buyers looking for verified, high-quality carbon removal credits. It’s built on data-driven tracking and third-party certification standards.
Highlighting the significance of the Trust Infrastructure for Puro.earth, its CEO, Antti Vihavainen, noted that:
“Carbonfuture’s CDR Tracking offers additional transparency of the carbon removal process from gate to grave, confirming alignment with the Puro Standard methodology requirements… we are delighted to see the integration of Puro.earth certified projects in the Carbonfuture Marketplace.”
By integrating Puro.earth-certified into Carbonfuture’s Trust Infrastructure, Puro suppliers will now have access to the largest carbon removal marketplace. They can then find buyers for their verified CDR credits.
The Puro Standard for engineered CDR in voluntary carbon markets follows robust, science-based quantification methodologies for carbon removal technologies. These include biochar, enhanced rock weathering (ERW), and direct air capture, among others.
The Puro Registry then issues the CO2 Removal Certificates (CORCs) that enable transparent tracking of credits from issuance to retirement. This, in turn, brings confidence to buyers because the Puro Standard is the first ICROA (International Carbon Reduction and Offset Alliance) endorsed standard for durable CDR.
In February last year, Nasdaq launched three carbon removal price indexes based on Puro.earth CORCs.
Earlier this month, the largest open data platform for CDR reported that carbon removal purchases jumped 437% for the first half of this year versus full year 2022, with Microsoft as the top buyer.
Collaboration is Key in Scaling Up CDR
The collaboration between Puro.earth and Carbonfuture is based on their shared mission to advance carbon removal technologies.
Their deal fuses Carbonfuture’s technological infrastructure that ensures trust in the carbon removal process and Puro.earth’s leading CDR Standard, plus 120+ registered CDR suppliers.
- To date, Puro.earth has retired 197,000 tons of CO2, at 174 EUR per ton of CO2 removed.
Carbonfuture’s CEO, Hannes Junginger-Gestrich, noted that their new setup will help carbon removal suppliers seamlessly go through the certification process and expand their market, “while providing buyers with the assurance to confidently purchase carbon removal credits”.
Carbonfuture and Puro.earth’s partnership involves two significant elements:
- Facilitation of sale of CORCs via the Carbonfuture Marketplace. By integrating Puro Standard into Carbonfuture’s CDR Tracking, suppliers can track their CDR efforts, from carbon removal to storage. This ensures that the issued carbon removal credits are reliable and of high quality.
- Carbon removal suppliers will be guided how to get their projects certified by the Puro Standard through Carbonfuture’s Carbon Removal Supplier Services.
Last month, Puro.earth also entered into a giant merger with Xpansiv in an effort to scale carbon removals.
These partnerships assert the significance of collaboration among key players in the CDR industry to bring more transparency and trust. By working together, Carbonfuture and Puro.earth are uplifting carbon removals while ensuring that CDR offers a solution to combating climate change and bringing the world to net zero emissions.