JPMorgan Chase & Co. made waves in May when it announced it would purchase $200 million of carbon dioxide removal. Though it’s a relatively small investment for a bank JPMorgan’s size, it’s one of the largest corporate buys of carbon removal and could be a huge boon to the nascent industry to pull carbon out of the air.
Brian DiMarino, managing director and head of operational sustainability at JPMorgan, was the driving force behind the precedent-setting move in the financial services industry. The flow of money could help the industry scale up in the coming decades, which it will likely need to do if the world is to avoid catastrophic climate change.
Source: bloomberg.com
