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Canada-backed coalition launches to raise $100M by 2030 for carbon removal tech, despite cost and scalability concerns.
The Advance Carbon Removal Coalition, backed by Canada’s government, RBC, BMO, and Shopify, launched on March 5, 2026, to raise $100 million by 2030 for carbon removal projects, building on $75 million already invested.
The initiative supports direct air capture and underground storage technologies to address hard-to-abate emissions, with goals to create clean economy jobs.
While officials highlight its climate and economic potential, experts caution that high costs—$400 to $1,000 per tonne—and energy demands may limit effectiveness and risk diverting focus from urgent fossil fuel reductions and renewable energy expansion.
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La coalición respaldada por Canadá se lanza para recaudar $ 100M para 2030 para la tecnología de eliminación de carbono, a pesar de los costos y las preocupaciones de escalabilidad.