JPMorgan Chase invests heavily in carbon removal technology.

JPMorgan Chase has agreed to purchase carbon dioxide removal (CDR) services from Climeworks, a global leader in direct air capture and storage, for over $20m. The agreement is one of the largest purchases of CDR services from a corporate buyer to date and demonstrates the bank's support for Climeworks' high-quality and high-integrity approach to removing CO2. The agreement sets a new standard for the voluntary carbon market and is essential for CDR companies to bring economies of scale needed by 2050.