Nasdaq Inc. is among a group of investors backing a carbon-capture project in Stockholm, in what is the first sale of carbon-removal credits licensed by the European Union. The EU initiative aims to spur further investment in a system potentially worth hundreds of billions of dollars.
The EU’s methodology “will facilitate investment in innovative carbon removal technologies, as well as sustainable carbon farming solutions,” it said.
Nasdaq, which operates the New York stock exchange, and Dutch payments provider Adyen are among the group of buyers of units in the Stockholm project. The investment should offer a “catalytic impact” to the voluntary carbon-removal market, said Ella Douglas, Adyen’s global sustainability lead.
The first publicly announced transaction under the EU’s removals framework was organized by ClimeFi, a portfolio manager for carbon-removals credits. Investment in removals credits offers companies a way to balance their emissions, ClimeFi said.
The EU’s methodology “has the potential to become the leading market standard for durable carbon removals,” ClimeFi said.
