Pre-CORCs are digital assets that represent validated projections of future carbon removal activities and can be purchased by corporations to prepay for projected carbon removal, providing an early source of revenue to scale projects. After the carbon removal has been realized and independently verified, Pre-CORCs are converted into CO 2 Removal Certificates, or CORCs. The new digital asset forms part of Puro Accelerate, Puro.earth’s program to scale the carbon removal ecosystem. Antti Vihavainen, CEO and co-founder at Puro.earth comments: “Right now, the capital for the much-needed, large-scale growth of the carbon removal industry is insufficient to reverse climate change. Puro.earth provides carbon removal as a service, through identifying suppliers, verifying their carbon removal and issuing CO2 Removal Certificates (CORCs), an integral part of long-term procurement portfolios to fulfil net-zero pledges.

Source: Forbes September 22, 2022 13:05 UTC