Germany-based Carbonfuture, a carbon removal marketplace, has signed a seven-year agreement with Swiss Re, a reinsurance company, to supply at least 70,000 tons of biochar carbon removal (BCR) credits from Exomad Green, a Bolivian biochar producer.

The credits will be supplied from Exomad's new Riberalta plant in Bolivia, which is currently under construction. Swiss Re may also purchase additional credits from multiple high-quality CO2 removal projects to meet its net-zero goals.

Swiss Re is leading the way for high-quality carbon offsets by requiring independent third-party monitoring, reporting, and verification (MRV) through Carbonfuture MRV+. This ensures that all credits undergo rigorous tracking, third-party verification, and certification.

Analyst Quicktake: Swiss Re signed a multi-year carbon removal agreement with Carbonfuture in December 2022 . In December 2023 , Carbonfuture also signed an agreement with Microsoft for biochar carbon removal (BCR) credits. These credits were also purchased from Exomad Green, a forest waste conversion project that provides carbon offsets.