Service fee calculation example

The Puro Registry is used for tracking the entire lifecycle of the credit. As we discontinued the secondary trading fee which would incur costs for each transaction, but was not welcomed by some commodity traders, we decided to move to single fixed cost at the end of the lifecycle to cover some of the costs of maintaining the system.

The new fee model will be operational at the beginning of October 2024. This means that for any transactions happening after that date, the new service fee applies. For existing CO2 Removal suppliers, the fees will be based on the cumulative volume over the last 364 days from the date of issuance of their CORCs.

On February 2, 2025, Puro implemented a new minimum CORC fee structure to enhance the efficiency of our audit processes and scale the CDR industry better, faster, and stronger. We also implemented a waiver that is a significant advantage for our customers that meet certain requirements, as it eliminates the Retirement Fee, making long-term offtake trades more cost-effective and attractive.

Certification Process To be issued CORCs under the Puro Standard, CO2 Removal Suppliers must undergo a thorough validation and verification process conducted by independent, accredited third-party Validation and Verification Bodies (VVBs). The certification process ensures that each CORC represents a real, net-negative carbon removal, in full alignment with the Puro Standard. 

Puro.earth Certification Journey To become a CO2 Removal Supplier under Puro Standard, the Puro.earth certification journey must be completed. Our certification process can be broken down into 7 steps, which starts with first contact and signing of our Platform Agreement, and ends with third-party verification and the issuance of CORCs: 

Step 1. Initial Qualification After submitting your interest to become a CO2 Removal Supplier, typically via the Questionnaire here, Puro.earth will begin an Initial Qualification of your activities. The objective of the Initial Qualification is to determine whether there are any immediate aspects that are non-compliant with the Puro Standard and methodologies that would make the project ineligible. 

Step 2. Platform Agreement If your Production Facility qualifies, you will be invited to sign Puro’s Platform Agreement. In parallel, Know-Your-Customer (KYC) checks will be completed. Once the Platform Agreement is signed and KYC completed, you will become an Account Holder and be given access to the MyPuro platform. 

Step 3. Facility Registration Via your MyPuro account, you can register your Production Facility. After successfully completing Facility Registration your facility will be given a unique registry identification number.  

Step 4. Audit Preparation Once your facility has been registered, you will be provided with Puro’s data collection system and instructions for audit preparation. During Audit Preparation, you will need to compile evidence and submit all documentation to Puro. Once your Audit Package is submitted, Puro will review the documentation. If your package is incomplete, Puro will request revisions before beginning with third-party audit. 

Note: Project Developers and LCA consultancies listed on Puro’s website can assist with Audit Package preparation, ensuring you have expert guidance throughout the preparation process. 

Step 5. Preliminary Assessment (Optional) At any time during the Audit Preparation, suppliers can opt for a Preliminary Assessment to boost market visibility by being listed as a Future Facility on Puro’s website. Puro will review the submitted project documents to determine if your Facility meets the established criteria and provide recommendations for continued audit preparation. A successful assessment enables you to list your Facility as a Future Facility on Puro’s website. 

Step 6. Third-Party Facility Audit An accredited third-party Validation and Verification Body (VVB) will evaluate your Audit Package. The process involves independent validation and verification through desktop review, on-site visit, interviews, and additional information requests as needed. Verified facilities receive “Certified Facility” status, valid for a (typically) five-year Crediting Period. 

Step 7. Output Audits & CORC Issuance Once your Production Facility is certified, you officially become a Puro Supplier. Your project continues CO2 Removal operations while monitoring and reporting to Puro. CORCs are issued following Output Audits conducted by a third-party VVB, at least annually.​ 

This is the output volume that a CO2 removal supplier reports to the issuing body when submitting their production output report.