Professional services firm Deloitte Canada announced today a multi-year agreement with carbon removal technology company CarbonCure Technologies to purchase high-quality carbon credits through supporting the deployment of CarbonCure’s technology, which captures CO2 in concrete.
Founded in 2012, Halifax, Nova Scotia-based CarbonCure provides solutions that let concrete producers use captured carbon dioxide to produce low carbon concrete mixes. CarbonCure’s technology injects captured and liquefied CO2 from industries and Direct Air Capture (DAC) into concrete ingredients. This transforms it into a substance that enhances the strength of concrete while reducing the reliance on its key, carbon-intensive ingredient, cement. Cement production, a key ingredient in concrete, accounts for approximately 8% of global carbon dioxide emissions, with over 900 kg of CO2 emissions generated for every 1000 kg of material produced.
Buildings are a key source of environmental and climate impact, generating nearly 40% of annual global greenhouse gas (GHG) emissions, and embodied carbon, or carbon emitted from the manufacturing of building materials and construction accounting for around half of carbon emissions from new construction.
Concrete is the world’s most utilized construction material with approximately 30 billion tons poured each year. CarbonCure said its technology for ready mix concrete reduces this environmental impact generally by about 5% per truckload.
Robert Niven, CEO of CarbonCure said:
“Entering this agreement with Deloitte Canada is pivotal in our mission to make a positive impact on the construction industry’s environmental footprint, accelerating the global deployment of our solution.”
According to Deloitte, the new agreement will directly support the deployment of CarbonCure’s carbon removal technologies around the globe, aligning with Deloitte’s carbon management strategy to support development and scale of meaningful market solutions.
Sheri Penner, Managing Partner of Purpose and Sustainability at Deloitte Canada said:
“Corporate buyers play a critical role as an early investor in climate solutions that enable decarbonization of high-emitting industries and permanent carbon removal. Supporting the development and verification of high-quality carbon removal credits is crucial to scale the gigaton market that is needed to meet net-zero.”