Puro.earth

Puro.earth is the first B2B marketplace, standard, and registry focused solely on carbon removal. It mobilizes the world’s economy to reward carbon net-negative emissions. It does 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.

<div><p>Finland-based Puro.earth is a business-to-business marketplace for carbon trading. Businesses offering net carbon negative products can sell their excess carbon removals on the Puro.earth marketplace. These carbon removals are verified and measured by an independent third party and turned into CO2 Removal Certificates (CORCs). Businesses with net positive carbon footprints can purchase CORC’s on the Puro.earth marketplace to offset their carbon footprint. In October 2021, Puro.earth launched the Pre-CORC framework, enabling corporations to buy future CORCs.</p></div>

New technology allows individuals and organizations to become carbon intelligent

Carbon Management Software

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    Finland-based Puro.earth is a business-to-business marketplace for carbon trading. Businesses offering net carbon negative products can sell their excess carbon removals on the Puro.earth marketplace. These carbon removals are verified and measured by an independent third party and turned into CO2 Removal Certificates (CORCs). Businesses with net positive carbon footprints can purchase CORC’s on the Puro.earth marketplace to offset their carbon footprint. In October 2021, Puro.earth launched the Pre-CORC framework, enabling corporations to buy future CORCs.
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    As of March 2021, Puro.earth reported 15 customers including Microsoft, Shopify, and Swiss Re. In June 2021, Puro.earth was acquired by Nasdaq. Puro.earth will remain an independent company and brand following the investment while the terms of the transaction were not disclosed. The partnership is expected to scale Puro.earth’s marketplace to address the growing demand for carbon removal by corporations. Additionally, Nasdaq expects to leverage Puro.earth’s marketplace capabilities to improve its ESG-focused technologies and solutions. In 
    <a href="https://sp-edge.com/updates/9367">
      <u>March 2022</u>
    </a>
    , Puro.earth and Nasdaq launched three new commodity reference price indexes to track the price of CO2 removals through Puro.earth’s CORCs.
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    Puro.earth entered into a strategic partnership with 
    <a href="https://sp-edge.com/updates/11541">
      <u>Climate Impact X (CIX)</u>
    </a>
    , a Singaporean marketplace for nature-based carbon credits, to align the demand and supply imbalances in the voluntary carbon market. 
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    Circular IQ is a Netherlands-based digital platform that offers SaaS-based solutions for businesses to assess their circular performance through smart data-gathering and analytics. Circular IQ collects and analyzes supplier-specific data and provides tailor-made reports for businesses about the circularity of their operations.&nbsp;
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    Circular IQ offers three main services 1) Circular Procurement Program, a service that monitors and reports the circular performance of a business&rsquo;s existing supply chain, 2) Product Circularity Improvement Program, a service in collaboration with KPMG to identify areas where the circularity of an existing supply chain can be improved, and 3) Circular Transition Indicators (CTI) Program, a service that supports and guides businesses through circular transition. The monthly subscription for CircularIQ&rsquo;s services is EUR 5,000 (USD 5,960).&nbsp;
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    In June 2023, Circular IQ reported more than 2,000 CTI customer accounts. 
    KPMG, Whirlpool, Saudi Aramco, Aptar, Rabobank, and Royal DSM are some of Circular IQ&rsquo;s high-profile clients.
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Circular IQ

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    Cloverly offers an application programming interface (API)-based business-to-business carbon offset solution that can be integrated into existing e-commerce, rideshare, aviation, fintech, enterprise resource planning, and shipping platforms. Cloverly offsets emissions on a per-transaction basis, which gives businesses the option of transferring the cost of offsetting to customers. For instance, a business using Cloverly can ask the customer to pay slightly extra to offset the carbon footprint of that particular transaction at checkout.&nbsp;
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    Cloverly determines the amount of carbon emitted by a transaction based on data such as package weights and transportation destinations and matches it with carbon offset projects located as closely as possible to the location and the source of the initial carbon-producing activity. After which, Cloverly purchases verified carbon offsets or Renewable Energy Credits (RECs) from the matched carbon offset projects in the amounts needed to cover the carbon footprint of the transaction. As of March 2021, Cloverly charges a service fee of USD 0.25 per transaction.
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    As of March 2021, Cloverly&rsquo;s main focus has been e-commerce by allowing merchants to add Cloverly to their Shopify, BigCommerce, and Magneto stores. The online gift card company, Instagift, also allows its customers to offset emissions through Cloverly.&nbsp;As of February 2020, Cloverly had facilitated 150,000 transactions offsetting nearly 11 million pounds of carbon. In November 2021, Clovery partnered with Diversifi to launch a service that offsets the crypto-carbon footprint.&nbsp;In May 2022, Cloverly also partnered with 
    <a href="https://sp-edge.com/updates/11507">
      <u>BeZero Carbon</u>
    </a>
    to obtain third-party ratings and independent quality assessments and 
    <a href="https://sp-edge.com/updates/11506">
      <u>Redwood Logistics</u>
    </a>
     to measure freight emissions and offset those via carbon credits in July 2022.&nbsp;
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    Cloverly&rsquo;s most recent funding was in May 2023, when it raised USD 19 million in a 
    <a href="https://sp-edge.com/updates/18533">
      <u>Series A funding</u>
    </a>
     round led by Grotech Ventures. 
    In July 2021, Cloverly raised USD 2.1 million in a seed funding round led by TechSquare Ventures. As a part of the transaction, Cloverly was also spun out from Southern Company, an American gas and electric utility where it was incubated.
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Cloverly

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    UK-based Giki offers two mobile apps to reduce the personal carbon footprint of its users:  
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    Giki Badges is an app that allows users to find sustainable and healthy products in supermarkets through 15 unique badges to UK supermarket products based on sustainability, health, and fairness. Customers can scan the product barcode to find the badges that are being awarded to the product. As of March 2021, Giki Badges reported awarding badges to over 280,000 supermarket products.
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    Giki Zero is an app that allows users to calculate and reduce the personal carbon footprint. Giki Zero estimates the personal carbon footprint of a user based on a lifestyle survey (a set of detailed questions about the user’s lifestyle) and provides customized advice to reduce the user’s carbon footprint. Giki Zero Pro is an extension of the same product for businesses which allows employees to monitor and reduce their carbon footprint. 
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    In April 2018, the software company Simpleweb invested an undisclosed amount in Giki in what is the company’s only funding round.
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Giki

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    Canada-based Metrio primarily offers SaaS-based Environmental, Social and Governance (ESG) reporting solutions for businesses. Metrio allows companies to monitor their ESG performance in real-time using dashboard tools to create customized reports based on any standard ESG framework. In addition to ESG reporting, Metrio also offers ESG industry benchmarking, supply chain ESG monitoring, and ESG investment management services. 
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    As of June 2021, Metrio reported over 5,000 clients including 75 multinational companies such as Target, Air Canada, Decathlon, and Aldo.
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Metrio

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  <p>
    Proof of Impact (POI) is an Impact-as-a-Service (IaaS) company based in the Netherlands. POI offers a range of SaaS-based digital tools for businesses and investors to collect, verify, and analyze real-time sustainability data from community assessments, Internet of Things devices, and corporate disclosures. The company also verifies and secures them using blockchain technology and presents them in a quantifiable form for sustainable decision making. 
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    POI’s services include: 1) Digital consultancy–digital assessments to create and deploy a company’s sustainability strategy, 2) Impact dashboard–an end-to-end solution to collect, verify, analyze, and report sustainability data, and 3) Impact Catalyst Cloud–cloud-based tools and application programming interface (API) solutions for tracking, verifying, and investing in sustainability projects. 
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    POI also operates a marketplace for sustainability projects where investors may directly select, and fund verified sustainable projects. 
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    POI’s most recent funding was in August 2022, when it raised USD 6 million in a 
    <a href="https://sp-edge.com/updates/12037">
      <u>pre-series A funding</u>
    </a>
     round led by Rakuten Capital. Previously in 
    December 2021, when it raised USD 2.3 million in a seed funding round led by Altera Investments. 
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Proof of Impact

Provides tools to monitor and offset CO2 emissions using reforestation, renewable energy credits, etc

Some carbon tracking companies use AI to measure and report CO2 emissions (e.g., Persefoni)

Some carbon trading marketplaces are blockchain based (e.g., Nori)

Solutions used improve carbon tracking transparency across internal and external business operations

Carbon trading marketplaces that allow individual and business users to buy and sell carbon offsets.

Puro.earth

EDGE Insights

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Sustainability Wrap: Fusion's time in the sun

Recent Updates

Climeworks and Carbfix partner with Puro.earth for CDR certification

Carbonfuture and Puro.earth partner to scale up CO2 removal

Puro.earth and Xpansiv partner to scale up carbon removal credits market

Puro.earth launches its new Pre-CORC units

Puro.earth grants audit certification for American BioCarbon

Puro.earth and Climate Impact X partner to align carbon credit market

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