Nasdaq Acquires Emerging Carbon Removal Market Puro.earth
June 01 2021 - 4:00AM
Nasdaq Acquires Emerging Carbon Removal Market Puro.earth
Nasdaq (Nasdaq: NDAQ) today announced its acquisition of a majority
stake in Puro.earth, a leading marketplace for carbon removal.
Puro.earth is the world´s first marketplace to offer industrial
carbon removal instruments that are verifiable and tradable through
an open, online platform. The platform already provides carbon
removal services to some of the world’s leading corporations,
including Microsoft and SEB.
The partnership with Puro.earth will scale the marketplace to
address a growing demand for carbon removal by corporations, as
well as enable new carbon removal methodologies as technology
evolves. The addition of Puro.earth’s marketplace capabilities to
Nasdaq’s environmental, social, and governance (ESG)-focused
technologies and workflow solutions gives Nasdaq’s corporate
clients further resources to successfully achieve their ESG
objectives. Fortum, a leading European energy company, will remain
a minority owner and an important partner in the venture.
“The addition of Puro.earth to our growing suite of innovative
ESG products and services extends our strategy into an increasingly
important area for our 4,000+ corporate clients worldwide,” said
Bjørn Sibbern, Executive Vice President and President of
European Markets at Nasdaq. “The partnership with
Puro.earth will provide our global network of corporate clients
access to a unique marketplace for carbon removal and will allow
Puro.earth to scale its platform through the Nasdaq network and
technology platform. We look forward to working together with the
Puro.earth and Fortum teams to create a global, transparent and
authenticated market for carbon removal.”
Carbon removal is a process in which CO2 is physically captured
from the atmosphere and stabilized into a durable storage. Carbon
removal is expected to play a critical role in keeping global
warming below 1.5C degrees. Puro.earth maintains a rigorous process
to approve and verify its removal methodologies. Leveraging its
robust experience maintaining quality and compliance standards on
both the issuer and supplier side, Nasdaq will work with Puro.earth
to further strengthen the governance around new methodologies by
establishing an external advisory committee with representation
from the industry, academia, buyside and suppliers.
“This investment and strategic partnership with Nasdaq will
enable us to realize our mission to support the transformation of
the world’s economy to reward carbon negative emissions and help
our customers reach their ambitious net-zero goals. So far we have
seen the carbon removal industry take small steps, and with Nasdaq
involved we have the potential to make much bigger strides”, said
Antti Vihavainen, CEO of Puro.earth.
Leading Northern European financial services group SEB is
committed to supporting its customers in their sustainable
transformation and to limit its own emissions.
“To stop global warming, it is not enough to limit emissions,
measures are also needed to remove carbon dioxide from the air,”
said Joachim Alpen, Co-head of SEB’s
division Large Corporates & Financial Institutions.
“The market for carbon removals is still evolving. We appreciate
initiatives to create economic drivers to accelerate carbon
removal.”
Puro.earth will remain an independent company and brand
following the investment. Terms of the transaction have not been
disclosed.
With a rich history and experience in navigating the global ESG
landscape, Nasdaq has become an established leader in corporate
sustainability. The company engages with corporate clients,
investors, regulators, influencers, employees and corporates to
drive innovation and transparency. To read more about Nasdaq´s
broad and deep engagement to sustainability, click here.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the
capital markets and other industries. Our diverse offering of data,
analytics, software and services enables clients to optimize and
execute their business vision with confidence. To learn more about
the company, technology solutions and career opportunities, visit
us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com
About Fortum
Fortum is a European energy company with activities in more than
40 countries. We provide our customers with electricity, gas,
heating and cooling as well as smart solutions to improve resource
efficiency. Together with our subsidiary Uniper, we are the third
largest producer of CO2-free electricity in Europe. Close to 20,000
professionals and a combined balance sheet of approximately EUR 60
billion, we have the scale, competence and resources to grow and to
drive the energy transition forward. Fortum's share is listed on
Nasdaq Helsinki and Uniper's share on the Frankfurt Stock Exchange.
www.fortum.com
About Puro.earth
Puro.earth is the world’s first B2B marketplace, standard and
registry focused solely on carbon removal. Our mission is to
mobilize the world’s economy to reward carbon net-negative
emissions. We do this by helping voluntary corporate buyers
accelerate carbon dioxide removal at an industrial global scale.
Puro.earth provides carbon removal as a service, through
identifying suppliers, verifying their carbon removals and issuing
CO2 Removal Certificates (CORCs), an integral part of long-term
procurement portfolios to fulfill net-zero pledges. Aiming at
climate and economic impact, Puro.earth is driving forward a market
of carbon negative industries, enabling a new revenue stream to
accelerate their growth. Visit us at https://puro.earth or on
LinkedIn Puro.earth CO2 Removal Marketplace and Twitter
@PuroCO2Removal
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements with respect to the investment by Nasdaq
in Matter and the benefits of the transaction, and statements about
Nasdaq and its products and offerings. We caution that these
statements are not guarantees of future performance. Actual results
may differ materially from those expressed or implied in the
forward-looking statements. Forward-looking statements involve a
number of risks, uncertainties or other factors beyond Nasdaq's
control. These factors include, but are not limited to factors
detailed in Nasdaq's annual report on Form 10-K, and periodic
reports filed with the U.S. Securities and Exchange Commission. We
undertake no obligation to release any revisions to any
forward-looking statements.
Media contacts
Nasdaq
David Augustssondavid.augustsson@nasdaq.com+46 73 4496135
Puro.earth
Anna McShane anna@gongcommunications.com +44 207 935
4800 +44 7766 256538
Fortum
Anne JalkalaVP, Digital Growth Businesses at Fortum
anne.jalkala@fortum.com +35 8401282884
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