New Retirement Data Points to a Verified Carbon Market in Motion

Retirement volumes across the verified carbon market reached new levels in recent weeks, driven by three separate forces: a landmark corporate retirement, a cumulative milestone on Finland-based CDR standard Puro.earth, and compliance-linked activity in South Africa.

Aerial view of forest and factories, showing carbon credits being actively used under regulation and by companies. AI generated picture.

Finland-based CDR standard Puro.earth confirmed that total retirements of its CO 2 Removal Certificates (CORCs) have surpassed one million, following compound growth over the past two years. Retirements on the Puro registry rose 140% in 2024 and 112% in 2025. A key operational indicator improved markedly: the average time between a CORC’s issuance and its primary trade dropped from 115 days in 2024 to seven days in 2026.

‘One million retirements is not just a number—it is evidence that the market is working as it should. Buyers are not just purchasing credits and waiting to retire them’, said Puro.earth President Jan-Willem Bode. Biochar accounts for the largest share of retired CORCs at 48.1%, followed by geologically stored carbon at 33.3%.

The week’s single largest retirement came from Hess Corporation, a US-based energy company, which retired 12.5 million carbon credits. The transaction is valued at approximately $250 million, based on the terms of a purchase agreement announced in 2022. The scale of the retirement places it among the largest on record.

In South Africa, registry data showed substantial volumes linked to compliance requirements under the Carbon Offset Administration System (COAS). Energy Joburg RF retired approximately 228,000 tonnes of CO2 equivalent (tCO2e) from a Johannesburg landfill gas project, and Eden Exchange retired 136,000 tCO2e from a domestic fuel efficiency and lighting project—both under the Verra standard.

Several first-time and returning buyers contributed to the week’s figures. Nanjing Weigang Dairy, a Chinese dairy producer, entered the verified carbon market with 21,000 tCO2e from Chinese renewables credits. Jiangsu Enjie New Material Technology, a lithium battery separator manufacturer, made its first retirement with 10,000 tCO2e from Chinese agricultural methane recovery projects. French energy services firm Selectra reached a year-to-date total of 393,000 tCO2e from Turkish renewables after adding 47,000 tCO2e—a notable return following full absence from the market in 2025.

The convergence of compliance, corporate, and CDR-driven retirements reflects a verified carbon market operating across multiple demand channels, with buyer diversity broadening and CDR retirement timelines continuing to compress.