Nasdaq (NASDAQ:NDAQ) today announced its acquisition of a majority stake in Puro.earth, a leading marketplace for carbon removal.
The partnership with Puro.earth will scale the marketplace to address a growing demand for carbon removal by corporations, as well as enable new carbon removal methodologies as technology evolves. The addition of Puro.earth’s marketplace capabilities to Nasdaq’s environmental, social, and governance (ESG)-focused technologies and workflow solutions gives Nasdaq’s corporate clients further resources to successfully achieve their ESG objectives.
Fortum, a leading European energy company, will remain a minority owner and an important partner in the venture.
Bjørn Sibbern, Executive Vice President and President of European Markets at Nasdaq, commented:
“The partnership with Puro.earth will provide our global network of corporate clients access to a unique marketplace for carbon removal and will allow Puro.earth to scale its platform through the Nasdaq network and technology platform. We look forward to working together with the Puro.earth and Fortum teams to create a global, transparent and authenticated market for carbon removal.”
Leveraging its robust experience maintaining quality and compliance standards on both the issuer and supplier side, Nasdaq will work with Puro.earth to further strengthen the governance around new methodologies by establishing an external advisory committee with representation from the industry, academia, buyside and suppliers.
Puro.earth will remain an independent company and brand following the investment. Terms of the transaction have not been disclosed.
