Setting the standard for carbon removal markets

Puro.Earth is a platform with a marketplace, standard, and registry focused exclusively on carbon removal.
 ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌
MAY 23, 2022
HELPING YOU DISCOVER EMERGING CLIMATE STARTUPS & OPPORTUNITIES EVERY WEEK

🪞 Same Impact, New Look... We went for a "lean green newsletter" look. One in-depth article right in your inbox, supplemented with 4 hot recent reads. One main course meal adorned with some spicy  sides.

Let us know if this tickles your fancy.


- Stephanie Zulman & Swarnav S Pujari

PS. It is hugely helpful if you forward this email to a friend and let them know where they can subscribe (hint: it's here).

🚀 STARTUP REPORTS
By Swarnav S Pujari • is a Growth/GTM consultant with climate startups, an angel investor and the Appointed Chairman of the Yorktown Climate Smart Communities Task Force - and has extensive growth and policy experience.
(Image: Puro Earth)
 
THE TL;DR 💨
  • Puro.Earth’s registry is exclusively focused on improving transparency, traceability, and integrity around carbon removal purchasing.
  • Its standard incorporates specific methodologies for different flavors of carbon removal, such as biochar or wooden building elements.
  • Its marketplace connects buyers such as Microsoft, Shopify, and SEB with global (primarily European) suppliers of carbon removal such as Carbofex, Carbo Culture, and NovoCarbo.
 

Puro.Earth is a platform with a marketplace, standard, and registry focused exclusively on carbon removal. I had the opportunity to chat with Joona Kunnas, Corporate Sales Manager, about Puro.Earth’s impact and operations.

The conversation has been edited for clarity.

What’s unique about Puro.earth?
We’ve vertically integrated key factors in the voluntary carbon market space. We’ve developed our own methodologies for different types of projects to quantify carbon removal, we have our own standards to quantify negative emissions, and we ensure that the negative emissions are being realized with auditing and measurement.

What do you mean by methodology?
A methodology is like a CO2 removal method and the rules associated with it. The current methodologies we support today are biochar, carbonated building elements, wooden building elements, and geologically stored carbon. Each one has its own rules for accounting for emissions reduction.

Official definition: "Methodology provides procedures to verify the compliance of CO2 Removal activity with the Removal Method. Methodology provides sound CO2 Removal quantification Methodology specific to each Removal Method. It specifies the activity boundaries, detailed calculation formulas and the proof needed of the activity performance. A Methodology may be revised, and the latest valid version must be used when issuing new certificates." (Source)

What does it mean when you say that you only quantify negative emissions?
Incumbents have typically only quantified the avoided emissions, and not factored in emissions from production. For us, we only quantify negative emissions, which means for any kind of project, we would look at the emissions from production, take into account the actual sequestered carbon, and only credit the difference. In terms of transportation, most accounting styles are cradle-to-gate, meaning transportation of the raw material is included, but transportation to the end-user is not.

There are some variations across the different methodologies, but we need to see three things to occur for us to consider a project as carbon removal.

  1. Capture CO2
  2. Stabilize Carbon
  3. Storage

Many of your methodologies have applications (biochar applied to fields, or building materials being used in buildings). How does the storage element work there?
This depends on the methodology, but there are accepted uses for each methodology that our auditors can verify. Trees are a great way to capture CO2, but they’re not great for storage - you might be at risk of having your carbon removal burn down in a wildfire, for example. When a company makes a net-zero claim, we think that claim needs to be backed by not just removed temporarily, but out of the carbon cycle for x amount of years.

For biochar for instance, yes, it can be used as a soil improver, and we can point to the research indicating that it will stay in the soil for X years.

What’s different about how you verify emissions?
Something else that’s different is that we confirm negative emissions are real by using measurement to confirm impact versus modeling. We have a third party auditor to do this verification by looking at a life cycle assessment, and lab results of physical biochar, for example. Now based on the production data, they can verify how many CORCs to use.

CORC: "a verified digital tradable carbon asset that confirms one tonne of CO2 has been sequestered" (link)

Also compared to other carbon removal platforms - we run our own registry. We do this to maintain integrity, and to remove the chance of double counting or misuse. For our CORCs, they can be attached to and sold on a different platform, but we need to make sure they are issued to the registry, where they get a unique identification number, and where issuance, transactions, and retirement are tracked.

Why would someone buy from Puro versus directly from a supplier?
A number of reasons, primarily the transparency that we offer with our methodology, standard, and rules. In addition to the third-party auditors we use to verify that carbon removal has occurred, our governance is detached from our company - for instance, we have Professor Myles Allen from the Oxford net-zero offsetting principles on our advisory board. This means you can have some credibility around the project methodology without just relying on the project developer.

Compared to a different marketplace, specifically for biochar, we have our own methodology for biochar. Our certificates are able to be listed to other platforms, but once we enroll and certify a project, we sign an exclusive agreement with that facility.

Who do you primarily work with on the buyer/seller side?
For buyers, we don’t discriminate based on size. We care a lot more about their ambition. If they want to solve the climate crisis, that’s someone we want to work with. Our business is based on collecting a service fee from CORC transactions, which are always included in the price. For younger developers, we may cover the upfront costs of working with us until they have issued their CORCs, which is when everyone else benefits.

On the flip side, buyers were originally from high-margin tech companies with the budget and time to invest and do due diligence. Now we’re seeing manufacturers, law firms, consultancies, you name it. We don’t sell directly to consumers, though there are companies that deliver subscriptions. For example, there’s a company that sells carbon negative Instagram pages that is B2C. The nature of how we work with our customers is also changing -- we’ve started to lock in longer contracts now around the 5 year mark, and are in discussions for 10 year contracts now.

Outlook
Puro is one of several platforms, along with Patch.io (previously covered on The Impact here), Nori, and Watershed, that seek to accelerate decarbonization by simplifying purchasing and adding integrity to the buying process for corporations. Puro.earth seeks to differentiate itself by offering a premium product, curated to exclusively focus on carbon removal, with verification and their own standard backing their credits, and has recently launched its public Puro Registry. We’re seeing increased rigor from some companies who are investing in climate initiatives, so if there’s a continued focus on actual climate impact, this strategy may pay off.

Puro.earth seems to have a strong vision around how it can advance carbon removal. With its majority stake acquisition by NASDAQ in 2021 and recently launched NASDAQ CORC price index, customers such as Microsoft, Shopify, and SEB, and its unique business model, it’s a company that seems well positioned to scale and facilitate plenty of impact.

 
🤓 IMPACTFUL READS
  • The SEC on 21st March proposed a set of rules that will move US companies toward a financial reckoning with their use of fossil fuels and with the growing climate crisis.
  • This could yet not be a big deal. The SEC has to take comments – and many, to be sure, will oppose the change, particularly looking for ways to eliminate or water down the rules.

⚡ Nuclear Energy’s Role In Biden’s Carbon-Neutral Economy

  • We need to get to a net-zero economy quickly
  • Renewables won’t get us there in a meaningful time frame
  • Advanced nuclear is seldom talked about but a great solution to climate change


💰 The Largest Venture Fund Focused On The Built Environment

  • Fifth Wall is building a consortium of corporates in the sector to bring them technologies that can decarbonize the space


⛵ The Most Promising Electric Solution For Boating Pollution
  • Flux Marine has designed an electric marine engine for boats that bests both the traditional and developing outboard products on the market.
  • Their all-electric outboards are devoid of all air, noise, and water pollution.
  • After a successful Series-A round, Flux Marine looks to scale operations and launch their own boat packages.
 
Twitter
 
Linkedin
 
Youtube
Editors: Stephanie Zulman, Swarnav S Pujari Writers:.Christina Zhou

This message was sent to you. If you no longer would like to hear from me, click
here to unsubscribe or update your preferences here. Please note that unsubscribing removes you from all our weekly newsletters. To stay subscribed to only the weekly newsletter, please reply back so we can ensure you only receive what you'd like.

The Impact, 19 Morris Ave, Bldg 128, Brooklyn, NY 11205, United States

Key phrases

Older messages

SEC seeking comments on climate disclosure

Thursday, May 19, 2022

Hey - As you may have heard the SEC is soliciting comments on their new suggested policy on climate disclosures. As part of this, The Impact has put together a formal comment to share with the SEC and

The powerful community benefits of decentralized solar

Monday, April 25, 2022

🌞 Shining Brightly - The Power of Off-Grid Companies in Africa; ☢️ Sniffer Robotics Sets The Standard For Detecting Methane Leaks and Gas Emissions; 💶 M Ventures, Merck's Corporate VC Fund, Fills

The SEC is giving us hope

Wednesday, April 20, 2022

The SEC is debating a rule change to make sure all companies disclose fossil fuel impact. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Quick follow up

Wednesday, April 20, 2022

Hey! Thank you so much for subscribing to The Impact, can't wait for you to learn from the information we've curated specifically for people like you! Daniel and I love to connect with each of

Following up

Wednesday, April 20, 2022

Quick bump on my last note! I wanted to personally thank you for subscribing to the newsletter and let you know that Daniel and I would love to connect with you on LinkedIn to learn how you're

Last night's party

Wednesday, April 27, 2022

Sweet afternoon sweet angels. Just wanted to remind you how much we love and adore you and would never do anything to hurt you. We are kind people, we think. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

WEEKEND READER: Where Are All The COVID Drugs?

Sunday, April 24, 2022

Antiviral COVID treatments are out of reach for many who need them — and our dysfunctional health care system, plus federal inaction, is to blame. WEEKEND READER: Where Are All The COVID Drugs? By

☀️ Solana's ready for a comeback

Thursday, April 7, 2022

Nothing can stop Berkshire now | Europeans won't shop | TOGETHER WITH Hi Reader, here's what you need to know for April 8th in 2:57 minutes. 📈 The war in Ukraine is shifting all the time. Join

API to scrape LinkedIn Profiles in real-time

Tuesday, June 28, 2022

Sponsored Scrape LinkedIn profiles in real-time On 19th April 2022, the US appeals court reaffirmed that scraping public LinkedIn profiles is legal. But scraping public LinkedIn profiles is difficult.

Today's startups in 10 words

Tuesday, June 28, 2022

10words.io Discover new apps and startups in 10 words or less linke.to: Some freshness & useful tools for short & bio links genei: A research tool that analyses web-pages, documents, and PDF

Unsheetly, Rune Reader, DocsToSite 1.0, Kaching, and InvoicePad

Tuesday, June 28, 2022

Create dashboards from Google Sheet data without code or functions BetaList BetaList Daily Unsheetly Create dashboards from Google Sheet data without code or functions Rune Reader A dedicated app for

‘Cause this is Qwilr 🕺

Tuesday, June 28, 2022

A start-up from sunny Sydney is changing business comms forever with its gorgeous, customizable, and fully web-based business proposal generator ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Today's Digest: Quit my freelance job. Today is day one as full time indie maker 🚀

Tuesday, June 28, 2022

Your Indie Hackers community digest for June 28th ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Overcoming the odds: How to get into the best accelerators

Tuesday, June 28, 2022

Just as much as I think entrepreneurs should skip the local investors first, I think entrepreneurs should skip the local accelerators too. Read More Random thought: have you ever been to a fireside

Bravery, Buffets, Light Bills & Gasifying Wands 🔋

Tuesday, June 28, 2022

Startups to reduce your light bill View this email in your browser The Battery and Paper Story There's a biodegradable battery that is printed on paper, and it could potentially reduce your light

Get paid $100 to participate in course research

Tuesday, June 28, 2022

Hi there, We're looking for 10 people to help us test a new course in return for a $100 gift card or donation to a charity of choice. If accepted, we'll ask you to read through the entire

[CEI] Chrome Extension Ideas #48

Tuesday, June 28, 2022

ideas for NFT, Google Maps, Twitter Ads and Twitch ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Just start 🎬

Tuesday, June 28, 2022

MicroFounder When I ask microfounders what's their advice for starting a startup as a solo developer, they often mention the importance of, well... starting: "I think the hardest thing is just