Yesterday at Puro the world’s first CO2 Removal Certificate (CORC) auction took place. We are extremely proud to announce that real transactions were made.
Puro set out to prove that CO2 removals can be made verified, comparable and tradable. We assumed that it is possible to generate new revenue for carbon net-negative operations. This is now proven! That helps in accelerating the CO2 removal from the atmosphere and reversing the climate change.
So what happened in the Puro auction No.1? Everything happened - all possible combinations of outcomes took place in the auction. There were allocations with full match - full wanted volume with purchase bid price. There were also matches with partial volume due to shortage and matches with purchase bids that had a specific type of removal method specified.
In addition to these happy cases, there were also the inevitable cases where match did not happen. The reason was either that the purchase bid price was not high enough or that the specific removal type was not available.
We promised to publish the weighted average price of all the allocated bids. The price range was wide.
The weighted average price per CORC (CO2 Removal Certificate = 1 metric ton of CO2 removed):
Next Puro auction opens 10.2.2020 - Come make a difference!