JP Morgan Chase Supports Bold "Carbon Capture" Move to Sequester 9.25e -7% Of Annual CO2 Emissions W. Canadian Company

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JPMorgan Chase, one of the largest banks in the world, has entered a landmark agreement with Vancouver-based carbon removal company CO280. The deal is worth $90 million and involves the purchase of 450,000 metric tons of carbon dioxide removal (CDR) over the next 13 years. This move shows more confidence in carbon removal tech. It also reflects a strong effort by companies to combat climate change in clear, measurable ways.

The deal makes JPMorgan the first major bank to commit to engineered carbon dioxide removal at this scale. Each ton of carbon will cost less than $200, a notable price improvement in a field that has often struggled with high costs. This long-term agreement boosts CO280’s growth. It also speeds up new carbon capture projects in North America.

CO280 is taking a different approach to carbon capture. The company is retrofitting old pulp and paper mills. They will use carbon capture technology instead of building new factories. These mills produce biogenic CO₂, a carbon dioxide from natural sources, like wood and plants. CO280 aims to capture emissions before they reach the atmosphere. Then, it stores them permanently underground in deep geological formations.

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JPMorgan has been working on ways to reduce its carbon footprint and support a low-carbon economy. The company has committed to financing $2.5 trillion in sustainable investments by 2030. Out of that, $1 trillion is for green projects. This includes renewable energy, energy efficiency, and carbon capture. This $90 million deal with CO280 fits directly into that framework.

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EDIT

https://carboncredits.com/jpmorgan-chase-invests-90m-in-carbon-removal-with-co280/