Canada Launches Advance Carbon Removal Coalition to Mobilize $100 Million by 2030
The Advance Carbon Removal Coalition in Canada aims to raise $100 million for carbon dioxide removal projects by 2030, supported by the federal government and key corporate partners including BMO, RBC, Shopify, and Vancity. The coalition seeks to establish Canada as a leader in carbon removal technologies such as direct air capture. Founded by Carbon Removal Canada, the coalition has already secured over $75 million in funding and focuses on attracting further investment while supporting the development of a credible carbon credit market.
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The Advance Carbon Removal Coalition (ACR) was launched in Canada to mobilize $100 million for carbon dioxide removal (CDR) projects by 2030. Founding members include the Government of Canada, BMO, RBC, Shopify, ClimeFi, NorthX, and Vancity, which have collectively contributed over $75 million to date.
ACR aims to enhance confidence in Canada's CDR market and facilitate investment in carbon removal technologies such as direct air capture. Currently, 78 CDR companies operate in Canada, with projects planned to increase removal capacity significantly. The coalition will publicly report its progress toward the investment target and aims to create a clearer market for carbon credits.
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