This year as we approach the end of 2024, we at Puro.earth take pride in reflecting on a year defined by significant progress in the carbon removal space. This year, we achieved key milestones that not only advanced innovation in durable carbon removal but also strengthened collaboration with global stakeholders. By fostering partnerships, hosting pivotal industry events, and supporting the scaling of carbon removal projects, we continued to drive forward the mission to combat climate change and enable the transition to net-zero emissions.

Here are some of the ways we made an impact in 2024:

• We issued around 375,000 CO2 Removal Certificates (CORCs) year-to-date, representing a remarkable three-fold increase compared to 2023. This achievement reflects the growing impact of our suppliers in durably removing CO2 from the atmosphere and advancing the carbon removal market.
  
• Puro welcomed 14 new team members from Finland, the Netherlands, the United States, Canada, France, and the United Kingdom.

• We further solidified our role as a leader in the carbon removal community by hosting three Puro.earth CDR Summits in key global hubs—Singapore, New York, and San Francisco. These events convened prominent industry leaders, and a diverse array of companies committed to advancing durable carbon removal solutions, fostering collaboration, and driving innovation in the field. 

Red Trail Energy Leads Ethanol Industry into Voluntary Carbon Markets

Puro.earth proudly supported Red Trail Energy (RTE) in becoming the first ethanol production facility to enter voluntary carbon markets, setting a new precedent for the industry. This groundbreaking collaboration underscores Puro.earth’s commitment to enabling large-scale carbon removal projects by providing rigorous certification and market pathways. Using Puro.earth's stringent standards, RTE's innovative carbon capture and storage (CCS) system locks biogenic CO2 from ethanol fermentation in a Class VI underground well, ensuring over 1,000 years of sequestration durability.

Key achievements include:

• Certification Excellence: RTE’s carbon removal credits, or CORCs, are issued under Puro.earth’s robust methodologies, guaranteeing environmental integrity through transparency and traceability in the ICROA-endorsed Puro Registry.
• Scaling Innovation: The project demonstrates how Puro.earth’s CORC framework incentivizes investment in CCS, helping to de-risk pioneering technologies that reduce emissions and deliver climate-relevant impact.
  
  

Climeworks Achieves Puro Standard Certification

In 2024, Climeworks became the first direct air capture (DAC) company to achieve certification for its carbon removal activities under the Puro Standard. This landmark achievement highlights the collaboration between Climeworks, its CO2 mineralization partner Carbfix, and Puro.earth’s rigorous certification framework. The certification applies to Climeworks’ Orca plant in Iceland, the world’s first commercial DAC and storage facility, operational since 2021.

• Certified removals are issued as CO2 Removal Certificates (CORCs) in the ICROA-endorsed Puro Registry, providing full traceability from issuance to retirement.
  
• The certification guarantees over 1,000 years of carbon storage durability, achieved through independent third-party audits of Climeworks’ DAC process and Carbfix’s mineralization technology.

Release of the 2024 CDR Meta-Map

Every year we release our CDR Policy Meta-Map. This resource highlights the progress made by governments, international organizations, and voluntary rule-setters in defining net-zero frameworks. The map illustrates how these efforts are creating demand for durable carbon removals to deliver the "net" in net-zero emissions. It also showcases the initiatives we are actively engaging with as a leading carbon crediting program with years of experience certifying removals in the voluntary carbon market.

Innovative Verification Fee Structure

To make carbon removal more accessible, Puro.earth introduced a new verification fee structure. This initiative is designed to encourage broader participation in voluntary carbon markets, reducing barriers for smaller suppliers while maintaining rigorous standards for CO2 Removal Certificates (CORCs).

First CO2 Removal Certificates for Terrestrial Storage

In August 2024, Puro.earth reached another milestone by issuing the first CO2 Removal Certificates (CORCs) under the Puro Standard Terrestrial Storage of Biomass (TSB) methodology. The certification was awarded to Woodcache PBC, a US-based environmental company pioneering innovative carbon removal solutions through the underground storage of woody biomass.

• After rigorous Monitoring, Reporting, and Verification (MRV) processes and third-party auditing, the project successfully restored the land to animal pasture while securely storing carbon for at least 100 years.
• The issuance of TSB CORCs, recorded in the public Puro Registry, marks the first application of this methodology, which sets strict criteria for sustainable biomass storage and ensures projects are net-negative in carbon impact.

Recognition as a Qualified Credit Issuer for Frontier

In September 2024, Puro.earth became a qualified credit issuing organization for Frontier, an initiative backed by Stripe, Alphabet, Shopify, Meta, McKinsey, and other businesses to accelerate permanent carbon removal. This approval allows Puro.earth to certify carbon removal projects under Frontier’s framework, with verified CO2 Removal Certificates (CORCs) recorded transparently on the public Puro Registry.

Frontier aims to invest over $1 billion in carbon removal by 2030, and Puro.earth’s role as a trusted credit issuer supports this mission by enabling suppliers to access funding and scale carbon removal solutions.

Unlocking Liquidity with Banking Leaders

Standard Chartered Bank and SEB expanded their partnership with Puro.earth to enhance liquidity in the Carbon Dioxide Removal (CDR) market and support the production of CO2 Removal Certificates (CORCs) to help corporations meet net-zero goals. The collaboration focuses on facilitating offtake agreements for high-quality, Puro Standard-certified carbon removal credits to their clients while addressing market challenges such as project financing and scalable investments.

• The partnership will leverage the banks' extensive networks to create new distribution channels for CORCs.
• Standard Chartered and SEB will act as intermediaries, connecting CDR projects and buyers through structured offtake agreements.
• The collaboration focuses on improving market access, ensuring Puro.earth's stringent carbon accounting standards and environmental safeguards.

Biochar

In 2024, biochar continued to play a pivotal role in our carbon removal ecosystem, with South America emerging as a key region for biochar innovation and deployment. Additionally, we marked an exciting milestone with India’s entry into the carbon removal space through Vahara, which successfully issued over 1,700 CORCs.

We extend our gratitude to everyone who has been part of this year’s journey—our buyers, suppliers, partners, investors, and the incredible Puro.earth team. Your commitment and collaboration have helped advance the frontier of durable carbon removal and brought us closer to achieving net-zero goals. As the year winds down, we hope you take time to recharge and reflect on the collective impact we’ve made. Together, we’re setting the stage for an even more impactful 2025, working towards a future where carbon net-negative solutions are at the heart of global climate action.

Are you ready to integrate carbon removal into your climate actions? For any questions to kick off the carbon removal journey, please feel free to contact us.