🇨🇦 Canada takes a big leap forward: $10m for CDR procurement 🇨🇦

🥳 Back in May, I shared a change to Canada’s Low-Carbon Fuel Procurement Program (hashtag#LCFPP), which opened the door to carbon dioxide removal (hashtag#CDR). Now, Canada’s government has confirmed it will do just that.

💰 hashtag#Canada will procure CDR to the tune of at least $10m by 2030 to help it achieve its own climate targets. Yes, it’s a small amount, but as we have seen in the U.S. with the Department of Energy’s CDR Purchase Prize ($35m), small amounts can go a long way in sending market signals and generating awareness in government for CDR.

👏 I doubt any of this would have happened without Na'im Merchant and Carbon Removal Canada, who are slowly but surely helping turn Canada into a global leader for CDR.

🤩 In case you missed it, earlier this month Carbon Removal Canada released their report “Procuring with Purpose: Canada’s Opportunity to Shape the Carbon Removal Market”, which provides a blueprint for the why and how of using procurement as a tool to scale CDR in Canada.

📑 You can check it out here: https://lnkd.in/dPsmDERP

📣 As you all probably know by now, I’m hashtag#TeamPublicProcurement to drive the carbon removal market. I was happy to see the report also outlines other essential elements needed to truly drive the market forward.

🎧 In case you want to dive deeper, I had a conversation with Na'im Merchant on his Carbon Curve podcast last month, where we spoke at length about the role of public procurement and how it can be an essential stepping stone towards compliance markets for CDR - check out the comments for more.

👀 I will keep my eyes on Canada. Innovative CDR startups seem to be popping up everywhere, supported by a progressive government, and - of course - Carbon Removal Canada.

A big shout-out also to the rest of the CRC team for the amazing momentum you are building: Daniel Kelter, Timothy Bushman, and Rachel Chen.

❓ What do you think? Do you see Canada as a frontrunner?

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