XTX Markets (XTX) has purchased CO2 removal credits for 8,374 metric tons of CO2, including the all-time biggest single purchase on the Puro registry. That means XTX has joined the top 10 companies for CO2 purchases on the cdr.fyi platform.
The algorithmic trading company plans to continue purchasing CO2 removal credits each year, focusing on projects that follow scientifically proven methods.
In addition to CO2 removal credits, XTX has also invested more than £400,000 ($462,676) into starting companies that work in support of net-zero goals, through its accelerator Carbon13.
As part of its carbon removal program, XTX partners with Supercritical and UNDO.
Relevant: Carbon Removal Market Registry cdr.fyi Launches
”From when we first started working with XTX Markets on their climate strategy, it was clear they wanted a program of high-quality carbon removal that went above and beyond any mandated net-zero program,” said Michelle You, Co-Founder and CEO of Supercritical. “Being among the top carbon removal programs in the world is an important signal for demonstrating climate leadership and setting the standard for all businesses in this space.”
”For UNDO, the example XTX is setting in supporting permanent carbon removal is vital in helping scale technologies like enhanced rock weathering,” said Chris Zair, Head of Partnerships at UNDO. “From their 2022 investment with us, they will not only help permanently remove 1,000t of CO2 from the atmosphere but also enable UNDO to make significant advancements in our approach to monitoring and verification.”
XTX Markets is an algorithmic trading platform with more than 180 employees based in London, Paris, New York, Mumbai, and Singapore. The company became the first trading firm to remove CO2 emissions on behalf of employees as part of its climate pledges announced earlier in 2022.
Read more: UNDO Is Helping Individuals Reduce Their Carbon Footprint
