JPMorgan Chase Invests Big in Carbon Removal Technologies

JPMorgan Chase has signed long-term agreements to purchase over $200 million in high-quality, durable carbon dioxide removal (CDR) technologies, which are expected to remove and store 800,000 metric tons of carbon dioxide equivalent from the atmosphere. The agreements represent one of the largest carbon removal purchases announced to date and will enable the firm to match every ton of its unabated direct operational emissions with durable carbon removal by 2030. The market for carbon removal is expected to grow dramatically between now and 2050, and JPMorgan Chase's investment aims to support the scaling up of carbon removal and storage as commercial solutions.