Your company can be carbon neutral, too.
You can buy and sell verified CO2-certificates to balance the environmental impact of everyday business and develop carbon-neutral products.
The next auction opens on October 9th
Auction Statistics
20,68€/CORC
Weighted average certificate price traded on Puro after first three auctions
Verified CO2 removal now has a price.
Each CO2 removal certificate (CORC) corresponds to one metric ton of CO2 removed and stored away from the atmosphere.
Participate
Suppliers
Organizations that run a carbon net-negative business, can apply to become verified suppliers for Puro.
Connect with climate-conscious companies & get additional revenue through certificate trading.
Buyers
Want to become carbon neutral? Are your customers demanding climate-mature actions?
Join the next CO2 removal auction to actively reverse climate change and meet your voluntary climate objectives.
Be the first to hear about the next auction.
Basics
Puro marketplace
Our goal is to reverse climate change by accelerating CO2 removal from the atmosphere and making CO2 removals verified, comparable and tradable.
Trading on Puro marketplace creates economic drivers to accelerate the development of CO2 removal today.
The auction
Puro operates a double-blind auction system. The buyers submit their purchase bids, while sellers submit their sales bids to the auctioneer.
When prices match, a deal is made and the CO2 removal certificate (CORC) is transferred to the winning bidder.
CORCs
Our verified and tradable CO2 Removal Certificate (CORC) represents 1 ton of CO2 factually removed for long term.
Once the CORC is retired it can be used e.g. in sustainability reporting.
How does it work?
The marketplace trades CO2 removal certificates (CORCs) which are independent documents that confirm that one ton of CO2 has been removed from the atmosphere.
1.
Supplier makes a claim for “CO2 removal”
2.
3rd-party verification against methodology
3.
Registry keeper issues the CO2 Removal Certificate (CORC)
4.
Supplier makes it available in an auction and sets a floor price
5.
Buyer makes a bid for a CORC
6.
When prices match, a sale is made
7.
Registry keeper transfers ownership to buyer
8.
The CORC is retired to be used in sustainability reporting
The greatest challenge
To limit global
warming to 1.5°C
we must both
reduce and
remove CO2(1)
Scale of problem
50%
of CO2 emissions absorbed naturally
Urgency
9
years
To reverse climate change
We must radically reduce emissions and remove CO2 that is already in the atmosphere. We are less than ten years away from reaching the level of accumulated emissions, after which it is no longer possible to limit temperature rise to 1.5 °C. Currently, less than 50% of the CO2 emitted annually is absorbed naturally; it’s therefore vital to accelerate the development of CO2 removal. There are many methods that can provide CO2 removal, but they are underutilized and underdeveloped.
(1) IPCC SR15
Carbon cycle
A pioneering solution
What goes up, must come down. Puro is a voluntary market mechanism to balance CO2 going to and from the atmosphere. Our verified and tradable CO2 Removal Certificate (CORC) represents one ton of CO2 actually and factually removed for long term. Trading on Puro marketplace creates economic drivers to accelerate the development of CO2 removal today.
How is CO2 removed?
CO2 removal methods
Removal provider is issued one CO2 Removal Certificate (CORC) for every verified ton of CO2 removed. Puro currently has science-based quantification methodologies for three long-term CO2 removal methods at an industrial scale. We welcome new CO2 removal methods to be added as they are developed and approved.
Biochar is a very stable, solid form of carbon that can endure in soil for thousands of years. It has multiple commercial uses, for example as greenhouse and soil additive or in wastewater treatment. Biochar is produced from biomass or biowaste, through pyrolysis (heated in absence of oxygen). Resulting biochar has high fixed carbon content and chemical and structural stability far greater than in the original materials.
Manufacturing concrete-like building elements using steel slag (waste material from steel industry) instead of traditional cement. Basically, it’s CO2 negative concrete that removes CO2 more than its production emits. During the hardening phase CO2 is chemically bound and mineralised permanently into the building element. Benefits of the method include easy measurability and storage of CO2 for good.
Growing trees capture CO2 which is then stored in wooden building elements. Sustainably grown wood can be used for many purposes - CO2 removal is considered long term when it’s used in construction of buildings. In Europe, buildings are designed to have minimum lifetime of 60 years, but in real life the CO2 storage is likely to be longer.
Webinar
Become carbon neutral now.
Replay the webinar hereLearn how climate conscious companies are permanently removing CO2 from the atmosphere with Puro:
- Can we really reach carbon neutrality now?
- What is Puro and how does it work in practice?
- Characteristics of carbon net negative operations
- Why is this voluntary?
- Who can act on the marketplace and how to join?
Marianne Tikkanen
Supply Development
Puro
Antti Vihavainen
Business Development
Puro
Companies involved
FAQ
Here are the most common questions we get about Puro. If there’s something more specific that you would like to know, please don’t hesitate to get in touch.
Puro is the first marketplace in Europe to offer verified CO2 removals. It’s a pioneering initiative to test if CO2 removals can be made visible and tradable through an open, online platform.
Puro is derived from the latin purus, meaning to cleanse or purify. The definition, when extended to other languages can mean free of pollutants, free of flaws or imperfections, pure and clean.
In Finnish, Puro means a stream, which serves as a metaphor for role of the marketplace enabling a flow or exchange between buyers and sellers.
In Puro the certificates are issued based on actual measurable CO2 removals from the atmosphere. Most other schemes are trading emission reductions, which is very important as well.
However, once possible reductions have been done, it’s essential to start removing at least the same amount of CO2 than your organizations operations produce.
It is a way to get CO2 away from the atmosphere and have it stored in a long term in a stable form.
A CORC is an independently verified document that confirms that 1 ton of CO2 has been removed from the atmosphere by one of the removal methods certified by Puro. It is issued by the registry to the supplier, purchased by the buyer and retired once the buyer has reported its usage.
At the moment we have three CO2 removal methods:
- Biochar – it is a very stable form of carbon that does not decompose even if it is used for soil improvement
- Carbonated building elements – it’s basically concrete but without any cement. The process sequesters more CO2 than the production causes.
- Wooden building elements – wood that is used in the construction of buildings is away from circulation for a long time.
We used the following criteria:
- Has to be easy to measure
- Has to remove CO2 from the atmosphere for a long time (at least 50 years)
- Has to be mature enough for scaling (out of the laboratory and no unsolved challenges that would prevent large scale deployment)
Methodology consists basically from three elements:
- A scientific report or a certificate that states the net emissions of produced product
- Production volume of said product
- Usage of the product (e.g. to ensure product is not burned)
The results of the auctions and feedback from participants are analysed. If the experiment is considered to be a success, continuation is bound to happen.
Fortum encourages new startups to be developed within the Innovation and Venturing incubation process. Puro is one of them and the costs of setting up the experiment are covered by Fortum. This is the fastest way to move forward.
Yes. If you know about a process that fulfills the criteria in the previous question and have independent evidence to back it up, please let us know.
The priority is obviously to minimize emissions first. In most cases there are multiple cost effective way you can do that. Once the easy ones have been done and you are facing increasing cost per reduced ton of CO2, you should consider compensating with CO2 Removal Certificates (CORCs).
We have an independent third party who verifies all claims for certificates. At the moment our partner is DNV GL.
The price of the CORC is determined entirely based on supply and demand. We will publish the average prices from each auction afterwards.
Before they can be utilized in sustainability reporting or for any other offsetting purpose, the certificates need to be immobilized so that their ownership cannot be changed anymore. Here the vocabulary is varied: Some talk about cancellation (as do our rules), some about retiring, but we prefer “Activation”.
Contact us