en.Wedoany.com Reported - Climeworks has signed a 10-year carbon dioxide removal (CDR) agreement with TD Bank to jointly establish a North American CDR portfolio.

Under the agreement, TD Bank invests in a CDR portfolio covering multiple pathways, including enhanced rock weathering (ERW), biochar, bioenergy with carbon capture and storage (BECCS), and future direct air capture (DAC). Climeworks Solutions, part of the Climeworks Group, will be responsible for the procurement, evaluation, and management of the portfolio for TD Bank, with DAC credits sourced from Climeworks' planned North American facilities.

For Climeworks, this marks its first agreement with a Canadian financial services client; for TD Bank, the collaboration positions it among the early financial services buyers supporting CDR through long-term procurement. Nicole Vadori, Vice President of Global Sustainability at TD Bank, stated that becoming the first Canadian bank to support Climeworks' direct air capture technology aligns closely with the bank's strategy to support innovative clean technologies in North America, and they look forward to Climeworks' innovative projects in Alberta.

This agreement reflects a shift in corporate carbon strategies from single-project approaches to diversified portfolios, aiming to balance CDR durability and delivery risks. Earlier this year, Climeworks established a new headquarters in Calgary, Alberta, Canada, a location strategically chosen for its carbon management expertise, mature infrastructure, and supportive regulatory environment. Adrian Siegrist, Chief Commercial Officer of Climeworks, expressed the company's pleasure in partnering with TD Bank, noting that its 2025 portfolio's 100% delivery rate can help TD Bank address residual emissions.

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