Carbon Removal Agreements

JPMorgan Chase signed a second carbon removal agreement with Charm Industrial, purchasing 61,500 tons of CO₂ removal credits and extending a $20 million venture debt facility to support infrastructure expansion. The deal brings the bank's total procurement commitment with Charm to 90,000 tons following an initial agreement in 2023. Charm Industrial converts crop and forest residues into carbon-rich bio-oil through fast pyrolysis before injecting the liquid into regulated underground wells, where it permanently solidifies. The debt facility will fund the deployment of processing equipment at new commercial sites, with an initial focus on wildfire mitigation in Colorado. Charm has also expanded into biochar production to diversify its carbon removal pathways. JPMorgan and Charm show how combining carbon removal purchases with project financing can help scale carbon removal infrastructure while supporting long-term emissions reduction goals.

Image Credit: