• Increased liquidity: Standard Chartered and SEB will drive more liquidity in the Carbon Dioxide Removal (CDR) market through expanded offtake agreements.
• CORC production: The partnership focuses on scaling CO2 Removal Certificates (CORCs) to help corporations meet net-zero goals.
• Investment in early-stage CDR projects: The collaboration addresses key challenges like project bankability and helps fund critical carbon removal initiatives.

Standard Chartered Bank and SEB have expanded their partnership with Puro.earth to enhance the Carbon Dioxide Removal (CDR) market. By facilitating offtake agreements for high-quality, Puro Standard-certified carbon removal credits, the banks will drive liquidity in the market and boost the production of CO2 Removal Certificates (CORCs).

Julien Jacob, Head of Offtake and Investment Solutions at Puro.earth, stated, “Achieving net-zero emission targets will be impossible without a significant acceleration in the pace of carbon dioxide removal deployment. We are thrilled to partner with Standard Chartered and SEB, both pioneers in facilitating sales and investments within the CDR market.”

The collaboration not only increases liquidity and CORC supply but also addresses critical challenges, such as the bankability of carbon removal projects. Standard Chartered and SEB will use their networks to create new distribution channels for CORCs, encouraging investment in early-stage carbon removal initiatives.

Fredrik Ekström, Head of Carbon Markets at Nasdaq and Chairman of Puro.earth, emphasized the importance of this partnership: “Offtake agreements play a crucial role at this stage of market development to support funding and demand signaling.”

Chris Leeds, Head of Carbon Market Development at Standard Chartered, added, “We need every tool in the toolbox to help accelerate efforts to achieve net zero. Investment in carbon dioxide removal technology today will scale tomorrow and put the net in net-zero.”

Related Article: Standard Chartered Pioneers Debt Financing for Carbon Removal Project with UNDO

Maximilian Brodin, Head of Commodities at SEB, highlighted the urgency of scaling CDR efforts: “The partnership with Puro will support SEB in our strive to equip our clients with the necessary tools they need to deliver on their net-zero targets.”

This partnership marks a significant move toward a more transparent and accessible CDR market, supporting corporations worldwide in their journey to achieve carbon net-zero.