$200 Million Investment by JPMorgan in CDR Technologies

JPMorgan Chase announces to help boost the advancement and expansion of carbon dioxide removal (CDR) technologies. The bank has made deals to remove and store 800,000 metric tons of carbon dioxide from the atmosphere. JPMorgan made a series of investments of over $200 million in emerging carbon removal projects. This is one of the largest purchases of carbon dioxide removal to date.

JPMorgan Chase's carbon removal purchases will support the scaling up of carbon removal. For instance, JPMorgan could match every ton of its unabated direct operational emissions with durable carbon removal by 2030. Additionally, this action will further accelerate JPMorgan Chase's operational sustainability efforts. These agreements will significantly contribute to advancing carbon removal as a solution accessible to a broader range of buyers. 

“Alongside facilitating sustainable finance and supporting clients in the energy transition, within our operations, we’re first reducing emissions to minimize our environmental impact and then addressing what we can’t yet abate. Our goal is to remove and durably store one ton of CO2 for every ton of unabated direct operational emissions by 2030." -Brian DiMarino, Head of Operational Sustainability, JPMorgan Chase.

https://www.jpmorganchase.com/news-stories/jpmorgan-chase-seeks-to-scale-investment-in-emerging-carbon-removal-technologies