Zurich, June 1, 2026 – Climeworks Solutions, a leading provider of high-quality carbon dioxide removal (CDR) portfolios, has entered into a major 10-year agreement with Toronto-Dominion Bank (TD Bank), one of North America’s largest financial institutions.
This deal marks a significant milestone in the carbon removal market, as TD Bank commits to purchasing high-quality carbon removal credits to address its residual emissions over the next decade.
Portfolio Approach to High-Quality CDR
Under the agreement, Climeworks Solutions will supply and manage a diversified portfolio of carbon removal projects focused on North America. The company will handle project sourcing, rigorous due diligence, and ongoing portfolio management throughout the 10-year period.
The portfolio includes multiple durable carbon removal pathways:
- Enhanced Rock Weathering (ERW)
- Biochar
- Bioenergy with Carbon Capture and Storage (BECCS)
These methods are selected for their ability to store captured carbon for long periods. The agreement also provides TD Bank with access to Direct Air Capture (DAC) credits from Climeworks’ future North American facilities.
Expanding Direct Air Capture in Canada
Climeworks is actively scaling its presence in North America. The company recently opened its Canadian corporate headquarters in Calgary, Alberta. Cold-weather testing of its Direct Air Capture technology is planned in the coming months — a key step toward building a commercial-scale DAC plant in the region.
Leadership Comments
“We’re excited to work with TD Bank… Through our portfolio approach, we will provide a mix of North American-sourced high-quality removals from regional projects alongside future direct air capture credits from Climeworks. With our strong track record, including 100% delivery rates of our portfolios in 2025, we can provide value for TD Bank by supporting it in addressing its residual emissions.”
— Adrian Siegrist, Chief Commercial Officer, Climeworks
“As carbon market standards and methodologies continue to evolve, Climeworks Solutions’ portfolio approach helps mitigate risk while providing organizations with flexible options in their carbon management strategies.”
— Susan Thompson, Managing Director Sustainable Finance and Advisory, TD Securities
“Being the first Canadian bank to support Climeworks’ Direct Air Capture technology is well aligned with our strategy of supporting a broad set of innovative clean technologies in North America.”
— Nicole Vadori, Vice-President Global Sustainability, TD Bank
Why This Deal Matters
This long-term agreement reflects growing corporate demand for high-quality, durable carbon removal credits. It provides revenue certainty for developers and helps accelerate the scaling of CDR technologies. Key highlights include:
- Diversification across multiple removal methods
- Strong focus on North American projects
- Professional portfolio management and risk mitigation
- Support for innovative Direct Air Capture deployment in Canada
Source: Climeworks Official Press Release (June 1, 2026) Climeworks Solutions signs 10-year CDR agreement with TD Bank
