(Bloomberg) -- Swiss stock exchange operator SIX Group AG is expanding in the carbon removal market as it attempts to diversify its offerings.
The Swiss bourse announced on Thursday that it’s buying a minority stake in Carbonfuture, a German startup that provides digital infrastructure for companies that remove carbon dioxide from the atmosphere and then sell the credits to polluters seeking to meet their net zero targets. The financial details of the investment were not disclosed.
The expansion into the carbon removal market is in line with SIX’s broader diversification strategy. Bjorn Sibbern, global head of exchanges at SIX and a former Nasdaq Inc. executive, told Bloomberg this week that he is looking at bringing new asset classes onto SIX’s trading platforms, singling out carbon removal credits as a potential addition.
“Our investment in Carbonfuture represents a significant step into an emerging new asset class, reflecting our confidence in their ability to build the essential digital infrastructure for the carbon removal market,” Sibbern said in a statement.
Carbon removal is a small part of the carbon offset market. In 2024, credits issued for carbon removal accounted for just 3.1% of overall issuance, according to BNEF’s Layla Khanfar.
Carbonfuture, founded in 2020, has its headquarters in Freiburg, Germany, along with offices in Zurich and San Francisco.
(Updates with context on carbon removal market)
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