Puro.earth is the world’s first marketplace for carbon removals. Puro.earth helps companies globally in their science-based journey to net-zero carbon footprint and accelerates the carbon net-negative economy. Puro.earth began as a shared initiative by a group of 23 pioneering companies aiming to find a way to verify, compare and trade CO2 removals. The aspiration was to create a functioning market for long-term carbon removal which is reliable, efficient, and location-independent. The marketplace is now in scale-up mode aiming to grow and stabilize the business.

Background

Planting trees is not fast enough to combat climate change effectively. We need measurable, industry-scale solutions with immediate impact on our climate. During the experiment phase, we validated the need for scientific-based CO2 removals that are measurable, verified, and credible, as well as showed that there is global demand for such service.

Solution

Puro.earth created an online marketplace where any company can reverse climate change by removing its carbon emissions from the atmosphere and creating growth with carbon-neutral products for its customers. Puro’s innovation is to harmonize different methods of CO2 removal and turn them into digital tradable assets called CO2 Removal Certificates* (CORCs). One CORC represents one ton of CO2 actually and factually removed for the long term, with a guaranteed 50+ years storage duration. Puro rewards companies that can remove CO2 from the atmosphere and helps other companies to reach their climate goals in the online marketplace. Success is measured by climate and economic impact.

Results

The climate effect equals the emissions of over 33 million km driven by a car. During the experiment phase, we proved that it is possible to measure and verify CO2 to the extent that companies are willing to purchase and utilize the resulting certificates. Puro.earth’s Biochar supplier can increase their production capacity by 10 times partly because of extra revenue from puro.earth.* Actual trading happens, and the price for carbon removals is formed. Extra income from trading stimulates CO2 capture and development. And that matches with the original vision of Puro – to accelerate CO2 removal from the atmosphere.