BMO Financial Group has pre-purchased the permanent removal of 1,000 tonnes of carbon dioxide (CO2) from the atmosphere using Carbon Engineering’s direct air capture (DAC) technology.
Facilitated via climate solutions business BeZero Carbon, the removal will crown BMO Financial Group the first bank to commit to such transaction.
Michael Torrance, Chief Sustainability Officer at BMO Financial Group, said, “As part of our climate ambition and our purpose to boldly grow the good, in business and life, BMO is committed to net zero in our own operations and to being our clients’ lead partner in their transition to a net zero future.”
“We’re pleased to be working with BeZero and Carbon Engineering on high-integrity, large-scale climate solutions such as DAC, and to be the first bank to do so.”
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