JPMorgan Chase has agreed to purchase 61,500 metric tons of carbon removal credits from Charm Industrial and will also provide financing to help the company scale its operations. This brings JPMorgan's total carbon removal credit purchases from Charm to 90,000 tons. The deal reflects a shift where large financial institutions treat carbon removal as both a climate tool and a growing market. Carbon removal differs from traditional offsets because it pulls CO2 out of the atmosphere and stores it long term. The IPCC says large-scale removal is needed to meet 1.5C warming targets. While the engineered carbon removal market is still small, demand is expected to grow as hard-to-decarbonize sectors like aviation and steel look for ways to address residual emissions. JPMorgan has pledged $1 trillion toward climate action by 2030.
