Article

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.