Puro.earth Launches New Carbon Removal Verification Fee Structure

Puro.earth Launches New Carbon Removal Verification Fee Structure - Carbon Herald

Puro.earth, a leading carbon crediting platform for engineered carbon removal, has announced it plans to update its service fee structure to make market entry more accessible for carbon removal suppliers and increase transparency in the Voluntary Carbon Market (VCM).

This revision is a result of ongoing consultations with the VCM ecosystem. The new fee structure will be live on October 1, 2024, with more announcements and details to come prior to its release.

The key change in the improved fee structure is the fixed cost per CO2 Removal Certificate (CORC). The fee will now be based on the reported removed tons of CORCs submitted by the supplier to the Issuing Body, rather than the CORC trading value.

Relevant: Puro.Earth Updated Its Geologically Stored Carbon Methodology

This decouples the service fee from both the number of issued credits and their sale price. By basing fees on reported tons of CO2 removed, the new structure promotes precise reporting.

A more granular discount structure will be applied based on the volume of reported output, rewarding higher outputs with lower unit costs. 

This approach minimizes any possible conflict of interest between suppliers and auditors, further enhancing market integrity.

Relevant: Climeworks Becomes First DAC Company To Receive Puro Standard Certification

The revised fee structure incentivizes participation and lowers barriers for smaller companies by eliminating upfront costs and covering audit expenses.

Suppliers pay the service fee only when a CORC is purchased, rather than when it is issued, which closes the financing gap for growing companies.

Antti Vihavainen, Chief Executive Officer of Puro.earth, said, “These changes reflect Puro.earth’s commitment to fostering a scalable, transparent, and efficient VCM. The new fee structure will support the growth of carbon removal projects and the broader market, addressing the urgent need for substantial negative emissions to combat climate change.”

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