Climate Impact X (CIX), a global marketplace and exchange for quality nature-based carbon credits, and Puro.earth, the world’s first marketplace, standard and registry for science-based carbon removal credits, are joining forces to address growing imbalances in demand and supply in the voluntary carbon market by making it easier for businesses and financial institutions globally to access new and emerging credit types that remove carbon from the atmosphere.
The collaboration enables a first of its kind blend of nature- and technology-based removal credits in a single solution, meeting demand for portfolios that map to The Oxford Principles for Net Zero Aligned Carbon Offsetting. The principles recommend a progressive increase in the volume of long-term carbon removal and storage in the blend of credits used by corporates to reach net zero.
CIX, jointly established by DBS Bank, Singapore Exchange, Standard Chartered and Temasek, brings to the partnership nature-based solutions that protect, restore and grow natural ecosystems, such as forests, mangroves and coastal habitats.
Puro.earth, who, in partnership with Nasdaq, offers technology-based carbon removal certificates verified by an independent third party, has pioneered the development of new carbon removal methodologies, including biochar, carbonated building materials, and geologically stored carbon.
“Permanent carbon removal projects are in their infancy and therefore supply is very constrained,” says Antti Vihavainen, CEO of Puro.earth. “We are looking to change this. A ready-made high-quality portfolio with an annually increasing share of permanent removal will prove companies progress on their carbon net-zero pathway.”