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This announcement builds on BMO's purchase last year of Direct Air Capture carbon removals using Carbon Engineering technology from Canada's Carbon Engineering. Carbon removal projects, including engineered solutions that store carbon for over 100 years, are part of BMO's strategy to diversify its offset portfolio to meet its net zero goals by 2050

BMO to invest in innovative carbon offsets from CarbonCure to permanently store CO2

BMO Financial Group today announced it has committed to purchase carbon credits over five years, representing 5,750 metric tons of carbon dioxide removal and reductions, via an agreement with Halifax-based CarbonCure Technologies, a climate tech company supporting the decarbonization of the global concrete industry. The credits are expected to be delivered every September from 2022 to 2026. Carbon neutral since 2010, BMO is the first North American bank to purchase CarbonCure carbon credits and the first purchaser of carbon credits supporting CarbonCure's full suite of carbon mineralization technologies, delivering permanent storage of CO2 across the concrete manufacturing process

By AP News
Published - Oct 26, 2022, 09:50 AM ET
Last Updated - Jun 14, 2024, 02:35 AM EDT
  • BMO is the first North American bank to buy carbon credits generated through CarbonCure's unique engineered carbon removal solutions

  • BMO continues to innovate to meet its net-zero goals with an agreement to reduce and remove 5,750 metric tons of carbon dioxide
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