Carbon marketplace claims platform will help media and public scrutinise corporate climate claims
Carbon removals marketplace Puro.earth has launched a public registry of engineered carbon removal projects which it claims have clinched certification under its Puro Standard, it announced this morning.
The Puro Registry has been designed to add transparency to carbon markets, by providing a platform where third parties can verify whether corporate climate claims are backed up by the requisite investments in high-quality carbon removal projects, according to the firm.
The registry, touted by Puro.earth as the first of its kind, will list carbon dioxide removal certificates (CORCs) purchased by corporates that have been verified by the Puro Standard, as well as information about yearly project issuance, it said.
The Puro Standard covers engineered carbon removal technologies and solutions including biochar, construction materials, soil amendments, and various types of carbon capture and storage (CCS) projects, including direct air capture (DAC).
Marianne Tikkanen, head of carbon removal supply at Puro.earth, stressed that boosting the transparency of carbon markets was “paramount to trust”.
“During the transition period from carbon offsets to removals, it is the media and the general public that will validate the truthfulness of corporate claims,” she said. “Now you can go to registry.puro.earth and verify these claims for yourself by searching for corporates that have made carbon removal claims based on CO2 removal certificates [CORCs].”
Puro.earth insisted its activities were aligned to carbon market rules finalised at last year’s COP26 Climate Summit in Glasgow. In a bid to avoid so-called ‘double counting’ of emissions reductions from CORC projects, each CORC verified by Puro is given a unique identifier and is unable to change ownership once ‘retired’, the firm explained. A CORC is ‘retired’ when a beneficiary makes a net zero or carbon neutrality claim supported by the CORC’s carbon sequestration properties.
The company also said its new public registry would follow “leading practices in traceability”, with plans to record the complete lifecycle of the carbon removal credit from issuance to retirement.
Development of the public view of the Puro Registry has been made possible through capital investment by Nasdaq, which became a majority investor in the marketplace last June.
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