By The Canadian Press

New coalition targets $100M for Canadian carbon removal projects by 2030

Mar 5, 2026 | 2:11 PM

An emerging industry to remove carbon dioxide from the atmosphere got a boost today with the launch of a Canadian initiative to raise another $100 million for those projects.

The federal government, RBC, BMO and Shopify are among the founding members of what’s being billed as the Advance Carbon Removal Coalition.

The coalition says its members aim to mobilize $100 million in new support for Canadian carbon removal projects by 2030, on top of the $75 million they’ve contributed to date.

Environment and Climate Change Minister Julie Dabrusin says cuts to planet-warming emissions must be paired with efforts to remove CO2 from the atmosphere.

Rather than capturing carbon from industrial smokestacks, carbon removal often refers to projects where CO2 is pulled directly from the air before it’s locked away in rocks.

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Yet, critics suggest the energy-intensive and costly projects offer only limited climate benefits and could distract from a rapid transition away from fossil fuels.

This report by The Canadian Press was first published March 5, 2026.

The Canadian Press