With a mission to scale carbon capture methods, a group of Finnish businesses has partnered with global financial solutions firm South Pole and Swedish bank SEB to create a marketplace for science-based CO2 removal certificates.
The Puro marketplace is currently developing verification methodologies for atmospheric CO2 removal. Puro will create verified and tradable CO2 Removal Certificates (CORCs) that represent one tonne of CO2 that has been removed or captured.
Puro will hold auctions that are open to companies that either provided CO2 removal, or those exploring solutions to meet carbon reduction targets.
This initiative addresses the fact that in order to stop global warming, we do not only have to limit emissions but remove carbon dioxide from the air. The implications of creating economic drivers include accelerating decarbonisation efforts and galvanize climate actions.
Puro could create long-term benefits at an industrial scale. If scaled up globally, the benefits in terms of the impact on climate change could be significant.
To avoid negative unintended consequences, Puro and future marketplaces would need to be monitored.