With the carbon dioxide removal (CDR) market still in its infancy, initial purchases provide a unique look into the formation of a new industry. Learning from early-stage deals allows both suppliers and buyers the chance to learn about emerging best practices and pitfalls to be avoided.
On April 23, 2024, MaRS announced a pre-purchase of CDR credits from five Canadian CDR developers. It was the first CDR credit deal with all Canadian suppliers, and MaRS is one of the first Canadian charitable organizations to purchase CDR credits.
Because CDR is new to most Canadian businesses and institutions, yet vital to reaching net-zero targets and achieving the Paris Agreement climate target, the Pembina Institute is offering this case study of the pre-purchase as an educational resource. The Pembina Institute is building resources and materials to help more buyers enter the market and support responsible CDR development in Canada.
