Government, Corporate and Financial Leaders Unite to Mobilize $100 Million for Canadian Carbon Removal by 2030

The Government of Canada, BMO, ClimeFi, NorthX, RBC, Shopify, and Vancity launch the "Advance Carbon Removal Coalition" to advance demand for Canadian CDR.

OTTAWA, ON, March 5, 2026 /CNW/ - Canada's carbon removal sector got a coordinated push today with the launch of the Advance Carbon Removal Coalition (ACR). An initiative of Carbon Removal Canada, ACR aims to mobilize $100 million in new support by 2030 for Canadian carbon dioxide removal projects across purchases, investments, and project finance. Founding members include the Government of Canada, BMO, ClimeFi, NorthX, RBC, Shopify, and Vancity – leading organizations that have collectively contributed over $75 million into the Canadian CDR ecosystem to date.

ACR is launching as a demand-side coalition to strengthen confidence in Canada's carbon removal market. It will build and elevate demand for high integrity credits from Canadian carbon removal through a shared platform for participation, transparency, and engagement across the Canadian CDR ecosystem – supporting the creation of a clearer market direction and stronger conditions for Canadian projects to secure purchases, investment, and project finance.

>> In Other News: Boeing Secures 40,000 Tonnes Of Durable Carbon Removal Credits In Multi-Year Deal With Carbonfuture

By bringing together the Government of Canada and leading corporate and financial institutions around a set of aligned objectives, ACR gives the Canadian CDR ecosystem a clearer basis for engagement and reduces the fragmentation that can slow market development. The Coalition will publicly recognize member participation and report aggregate progress toward its 2030 target.

Carbon removal is expected to become a trillion-dollar global market in the coming decades as countries and corporations tackle emissions from sectors like cement, aviation and heavy industry. Canada holds competitive advantages in geology, engineering expertise, biomass resources and clean electricity. Capturing that opportunity will require credible domestic markets.

Canada's CDR sector is gaining momentum, but projects need more than one-off transactions to move from development to scale. ACR will help make the Canadian market easier to follow and engage by clarifying who is participating and the types of demand-side activity underway. This helps projects and decision-makers understand where serious demand is emerging in Canada.

Quotes

"Canada has the talent, geology and clean power to lead in carbon removal. By aligning serious buyers and investors, we're helping advance Canada's carbon removal sector from fragmented to financeable. That's how you go from ambition to projects on the ground." Ed Whittingham, Founding Director, Advance Carbon Removal Coalition

"Carbon removal is one of the greatest economic opportunities Canada has in front of it, and seizing it requires bold demand signals from both government and industry. The Advance Carbon Removal Coalition is a clear declaration that Canada is building this sector, and that serious participants are already at the table." Na'im Merchant, Executive Director, Carbon Removal Canada

"Canada is committed to achieving a net zero economy, and carbon dioxide removal will be essential to reaching that goal. With strong policies and innovative technologies, Canada is uniquely positioned to build a globally competitive carbon removal industry. The Advance Carbon Removal Coalition will help us get there by mobilizing investment and supporting innovative Canadian projects that drive climate progress, strengthen our economy, and create demand for high integrity carbon credits." The Honourable Julie Dabrusin, Minister of Environment, Climate Change and Nature

"The Government of Canada is proud to participate as a founding member of the Advance Carbon Removal Coalition to strengthen Canada's growing carbon removal sector. Our new government is committed to supporting solutions that advance Canada's economic and climate objectives as outlined in our new Climate Competitiveness Strategy." The Honourable Tim Hodgson, Minister of Energy and Natural Resources

SOURCE Carbon Removal Canada