Financial services company Nasdaq has acquired a majority stake in Puro.earth to develop a trading platform for carbon removal credits.
Carbon trading has gained traction due to companies’ need to offset emissions through initiatives such as tree planting and sequestration.
Puro.earth has developed the online platform for offsetting credits, as well as carbon removal certificates. These are based on technologies for long-term carbon removal such as carbon capture and storage (CCS) and allow companies to reduce their carbon footprints.
Bjoern Sibbern, Executive Vice President at Nasdaq, said: “The partnership with Puro.earth will provide our global network of corporate clients access to a unique marketplace for carbon removal and will allow Puro.earth to scale its platform through the Nasdaq network and technology platform”.