Scaling Carbon Removal Credits: Insights from Economist Impact’s Sustainability Week

At the Economist Impact’s 8^th annual Sustainability Week, government representatives, members of academia and business leaders from across the world gathered to share insights on the tools necessary to tackle sustainability, focusing on decarbonization, green finance and investment, circularity and supply chain and innovative technology and adaptation. Leaders from Nasdaq and Puro.earth, both of which sponsored the event, shared their insights on the voluntary carbon removal market.

Fredrik Ekström, Head of Carbon Markets at Nasdaq, and Antti Vihavainen, CEO of Puro.earth, gave a presentation on “Scaling Carbon Removal Credits – Opportunities, Trends and Implications,” highlighting how businesses are transitioning from focusing on carbon emission avoidance offsets to focusing on carbon removal. The pair explored the status of carbon dioxide removal (CDR) technologies in the market, the opportunities for the growth of CDR innovations and the need for standardized frameworks and methodologies.

The talk also addressed challenges the carbon removal market is currently facing, such as supply constraints. To scale the carbon removal ecosystem, Puro.earth launched Puro Accelerate which enables buyers to purchase future CO2 Removal Certificates (CORCs) for projects in development through advance market commitments and Pre-CORCs, a digital asset to facilitate pre-payments. The program gives buyers the opportunity to not only help a project get off the ground, but also ensure it has access to future cash flow. 

Speaking to the growing urgency of sustainability efforts, the global ratings agency Integrity Council for the Voluntary Carbon Market (IC-VCM) published its long-awaited Core Carbon Principles (CCP). This report outlines what makes a carbon credit "high integrity" by setting rigorous thresholds on disclosure and sustainable development.

Nasdaq is proud to own a majority stake in Puro.earth - the breakthrough company that is home to the world’s first reference price index for voluntary carbon markets.

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