Manage episode 285349472 series 1061504
Finland-based Puro.earth is a marketplace for carbon removal that’s aiming to accelerate the development of emerging carbon net-negative companies by verifying the net negative impact of these companies, and connecting them with corporations seeking to reach Net Zero targets.
Through its marketplace, Puro.earth is aiming to build a self-sustaining global market for carbon removal worth as much as $300bn, potentially removing 10 Gigatons of CO2 a year by 2050; the aim is to transform carbon from a climate problem to a green economy solution.
Puro.earth has already generated interest from several corporates – customers include insurer Swiss Re and e-commerce company Shopify, both of which have publicly announced carbon removal via Puro.earth as a key part of their climate change strategies.
In less than a year, there has been a threefold increase in the number of companies committing to Net Zero. For many businesses, carbon removal is a key pillar of their Net Zero strategies – and it’s well documented that to get to NetZero by 2050 we urgently need to scale up carbon removal (not just reduce emissions). According to a recent IEA report, up to $160 billion needs to be invested in CCUS technology by 2030, a ten-fold increase from the previous decade.
(Interviewed by StartupGrind's Chris Joannou).