Nasdaq is planning to move Puro.earth. Obviously, which is the carbon removal market to its matching engine later this year. It also hopes to offer Future contracts in carbon removals. Importantly, as the market expands.
In June 2021, Nasdaq announced that it had acquired an entire stake in Puro.earth. That is, the first marketplace that offers industrial carbon removal tools.
Net-Negative technology with certificate. Focused upon is obviously on that is Puro.earth. This is the technology that removes carbon on the industrial scale. Also, keeps it in storage for at least 50 years. The market integrates various ways for CO2 removal. Furthermore, converts them into digital assets. Known as (CORCs) or CO2 Removal Certificates. Known as the digital assets & can be traded. Thus, which are trad-able and verifiable on an online platform that is open and accessible.
A LARGER FOCUS ON SUSTAINABILITY AS WELL AS ESG:
Fredrik Ekstrom, head of Nasdaq Stockholm, European fixed income and ESG. Focused upon the ESG as well as sustainability in Informed Markets.
Ekstrom stated: “Puro.earth is early in the carbon removal journey. Furthermore, we anticipate a significant need over the next five to 10 years.”
Was named the Chairperson for Puro.earth by year 2021. Nasdaq hired Ekstrom. Obviously, as the chief of risk in Nasdaq Clearing in 2010. Furthermore, has held various positions as the president of Nasdaq Clearing. Apart from this, head of Nasdaq Nordic Fixed Income Exchange.
Puro.earth stated in its blog that the commitment to trade value of CORCs increased five times. Hence, when compared with the time before Nasdaq’s participation. In the year that followed the Nasdaq investment. Puro.earth has issued 135,000 CORCs which represents the equivalent of 135,000 tons. Over the long term removed from the atmosphere was the CO2. Hence, an increase from 74,000 in the two prior years.
Carbon removal is a new market as per Ekstrom and he stated that Nasdaq is assisting in its scaling up and advancing methods since the company is a proponent of markets and openness.
In the wake of acquiring a stake Puro.earth, Nasdaq has set an advisory board external to the company to Puro.earth’s carbon removal market headed by Prof. Myles Allen, the director of the Oxford Net Zero Initiative. In the wake of Nasdaq acquisition, Puro.earth have launched Puro Registry, an online platform that allows anyone to see whether a company has utilized CORCs to offset emissions. Nasdaq has also introduced its first price-reference index. The index that measures carbon removal credits. Founded on transactions on Puro.earth, as these are the credits.
In March of this year Nasdaq introduced three commodity price indexes that are based in the trade of CORCs.
LAUNCH OF THREE NEW COMMODITY REFERENCE PRICE INDEXES:
‘@Nasdaq has launched three new commodity reference price indexes:
1. CORC Carbon Removal Price Index (Nasdaq: CORCX)
2. CORC Biochar Price Index (Nasdaq: CORCCHAR)
3. CORC Bio-based Construction Materials Price Index (Nasdaq: CORCWOOD)
— Puro.earth (@PuroCO2Removal) March 24, 2022
Antti Vihavainen the chief executive officer of Puro.earth stated in an article that the launch was an exciting day to the self-regulating carbon market since it introduces a new set of indicators that offers price transparency, and can help corporations to understand the true cost of eliminating their carbon emissions.
“This can spur growth by bolstering the business case for any new carbon removal projects, and also aiding potential investors in these ventures make more informed choices,” Vihavainen added. “Made operational, as the initiatives are for new Carbon removal methods. Hence, due to corporate. Apart from Corporate, the investor support for the new methods. Finally, more indexes will be released.”
Vihavainen added that the introduction of this index is the clear consequence of the collaboration with Nasdaq and permits carbon market participants and ESG communities to utilize carbon removal statistics as a useful metric to track, analyze and provide reports.
He is convinced that the indexes could trigger an increase in demand from corporations for emissions that are negative, which will provide liquidity to carbon removal suppliers that need the income streams generated by CORCs to begin and expand.
CELEBRATING THE ONE YEAR ANNIVERSARY OF THE PARTNERSHIP:
We are celebrating the one-year anniversary of our exciting partnership with @NasdaqExchange👏 We are in a strong position to scale the #CO2removal industry and address growing demand from corporations on their path to #netzero.
— Puro.earth (@PuroCO2Removal) June 2, 2022
Vihavainen was also quoted as saying that, in addition to specifically focusing on expansion within North America and Europe, Puro.earth will continue to grow into Latin America and Asia, and will continue to develop the development of new carbon removal methods as science and technology advance.
CALCULATIONS OF HOW MUCH A CARBON REMOVAL BUSINESS COULD ELIMINATE?
He calculated that a working carbon removal business could eliminate about 10 gigatons of CO2 every year.
“We want to play a significant role in creating a future where every company is able to help to reverse climate change by removing the carbon emission from our atmosphere” Vihavainen said. “Bolstered by the backing of Nasdaq We continue to push to realize this crucial and beneficial idea.”
Puro.earth will also be transferring to Nasdaq’s matching engines early next year, as per Ekstrom. He added: “We have ambitions to start futures contracts for carbon removal as the market expands.”
Ekstrom said that the equity markets have experienced increased volatility for the past two years. Nasdaq Nordic recorded record levels of listing and trading in 2021. Additionally, Nasdaq Nordic listed an unprecedented amount of corporate bonds last year, and 30% of them were sustainable bonds.
“We have huge buffers to capacity, but we have added capacity.” the manager said.
There were 13 items listed in the Main Market this year. However, several larger IPOs have been delayed. Until 2023 in are hoping for the volatility to decrease.
Ekstrom mentioned opportunities in ESG and is continuing to be the most important market for growth businesses.
“Shifting our markets to the cloud. Hence, as we are deeply focused. Also, how digital assets can change the structure of markets for financial services. Furthermore, also launching new Nordic market products based on ESG along with our information,” the official added.