OTTAWA, ON, October 9, 2024 – Carbon Removal Canada released a new policy report this week, “Procuring with Purpose: Canada’s Opportunity to Shape the Carbon Removal Market.”

The report shows how the government can build a robust carbon removal sector in Canada. 

Following the government’s Low-carbon Fuel Procurement Program (LCFPP) announcement earlier this year, Carbon Removal Canada developed original research on how governments and corporate actors can be catalytic in developing the carbon removal sector by strategically purchasing innovative carbon removal services. 

Some findings include:

• How carbon removal can help propel Canada’s net-zero ambitions
• How joint public/private sector entities can speed up innovation and contribute to economic growth through carbon removal procurement
• How governments and companies can approach designing procurement programs

“If we want to turn Canada’s global lead in carbon removal innovation into real productivity and employment gains, the sector requires new tangible business models, like procurement. Government procurement is a strategic and targeted way to crowd in private-sector capital and scale this critical climate solution.”  – Na’im Merchant, Co-Founder and Executive Director of Carbon Removal Canada

“Demand creation for carbon removal services is among the most pressing challenges facing the industry. Neither the public nor private sector will be able to scale the industry alone. Procurement offers an immediate opportunity for all actors to grow the demand signal for carbon removal and can serve as a bridge to longer-term, sustained demand in the future through carbon markets and regulatory schemes. The time to act is now,” –Tim Bushman, Director of Policy & Research of Carbon Removal Canada and author of the report