BMO makes catalytic commitment in Canada’s carbon removal ecosystem

Ottawa, Canada, March 5, 2026 – From the main stage of Carbon Removal Day, Canada’s premier carbon removal ecosystem gathering, Carbon Removal Canada announced a new partnership with BMO, marking a significant milestone for this growing sector in Canada. 

Through this partnership, BMO is funding a two-year initiative to strengthen and accelerate Canada’s emerging carbon removal ecosystem through policy leadership, capacity building, and cross-sector collaboration. With BMO’s support, Carbon Removal Canada will advance the research, policy, and development activities that enable responsible scale-up.

 Over the next two years, this work will:

• Define the role of carbon removal in Canada’s national climate strategy, ensuring it is integrated transparently and responsibly alongside emissions reductions
• Improve transparency and credibility through research, policy guidance, and shared standards
• Convene diverse stakeholders from across sectors to align on shared priorities and pathways forward

By building capacity to attract investment and reduce costs, this integrated approach will help establish Canada as a global leader in carbon removal while creating significant economic opportunities across the country.

This partnership demonstrates how financial institutions can take a leadership role in building the ecosystem needed to position Canada as a global proving ground for high-integrity carbon removal.

“We’re excited to welcome BMO as a partner in building Canada’s carbon removal future,” said Na’im Merchant, Executive Director of Carbon Removal Canada. “Canadian banks are increasingly eager to support this sector from the ground up, and BMO is pioneering a new model by investing in ecosystem development, not just carbon credits. Their support sets an important precedent and will drive the collaboration needed to accelerate progress across the industry.”

“Our partnership with Carbon Removal Canada highlights BMO’s commitment to advancing high integrity climate solutions that contribute to a more sustainable and resilient future for Canada,” said Grégoire Baillargeon, President, BMO Quebec, Vice Chair of the BMO Climate Institute and Board Member of Carbon Removal Canada. “Supporting the growth of the country’s carbon removal ecosystem in parallel to decarbonization efforts will accelerate innovation and create opportunities for new technologies to address residual and historical emissions.”

Canada is uniquely positioned to lead in carbon removal, with abundant clean energy, world-class geological storage potential, and a skilled workforce. New economic analysis from Navius Research shows the sector could halve the marginal abatement cost of net-zero, boost Canada’s GDP by $78 billion, and create 300,000 jobs across multiple industries by 2050.