Nasdaq has taken a significant step in expanding its commitment to environmental, social, and governance (ESG) initiatives by acquiring a majority stake in Puro.earth, a rising player in the carbon removal sector.
This acquisition introduces a new online marketplace aimed at bolstering the sustainability efforts of corporate clients. Bjørn Sibbern, Executive Vice President and President of European Markets at Nasdaq, expressed enthusiasm about the collaboration, stating that it will grant their global client base access to a distinctive platform for carbon removal. Furthermore, he noted that this partnership will enable Puro.earth to enhance its offerings through Nasdaq’s extensive network and technological resources.
Puro.earth has already established itself as a provider of verifiable carbon removal solutions for prestigious corporations such as Microsoft and SEB, where its services are utilized both internally and for external clients.
Joachim Alpen, co-head of SEB’s large corporates and financial institutions division, emphasized the necessity of carbon removal in the battle against global warming, stating, “Limiting emissions alone is insufficient; we also need to actively remove carbon dioxide from the atmosphere.” He acknowledged the evolving nature of the carbon removal market and expressed support for initiatives that create economic incentives for advancing carbon removal technologies.
Details regarding the financial terms of the transaction have not been disclosed; however, European energy company Fortum will continue to hold a minority stake in Puro.earth.