Swiss Re, a Switzerland-based reinsurance company, has purchased 1,000 tonnes of carbon removal credits from O.C.O Technology as a part of a recent agreement.
Funded by the Carbon Steering Levy, Swiss Re purchases high-quality carbon removal and avoidance certificates to offset its remaining operational emissions. In selecting carbon certificates, Swiss Re adheres to external guidelines, including the Core Carbon Principles of the Integrity Council for the Voluntary Carbon Market, assessing key quality aspects such as integrity, durability, and scalability.
Phil Singleton, Head of Strategy and Transformation Procurement for Swiss Re, visited O.C.O’s operation in Wretham, Norfolk, UK, to observe their carbon removal processes and said, “It’s great to see the carbon removal process brought to life in my local area. Swiss Re is keen to support its partners in this growing industry.”
Talking about their carbon removal process, O.C.O Director, Stephen Roscoe said, “It is our patented technology that sets our carbon credits apart from nature-based carbon credit offerings. As an engineered and fully-certified CO2 removal process, we can guarantee the permanent capture of CO2 and thereby demonstrate a direct impact on limiting climate change.”
O.C.O’s Accelerated Carbonation Technology (ACT) uses carbon dioxide gas to treat waste materials, predominantly Air Pollution Control residue (APCr) from the Energy from Waste (EfW) sector. This process chemically transforms the waste, permanently locking up CO2 by converting it into an artificial carbon-negative limestone aggregate, which is in demand as a sustainable building material.
Each tonne of manufactured limestone (M-LS) produced removes 49.1 kg of CO2, a figure verified with an Environmental Product Declaration (EPD). In 2023, O.C.O recycled over 200,000 tonnes of waste materials from EfW facilities, producing over 500,000 tonnes of manufactured limestone and permanently capturing over 25,000 tonnes of CO2.
The carbon storage capability of the carbon-negative aggregate has enabled O.C.O to collaborate with carbon removal specialist Puro.earth. Together, they have developed a monitoring, reporting, and verification process that has facilitated the registration of O.C.O carbon credits on the Puro platform, from which businesses like Swiss Re can purchase the credits.