Climeworks Solutions Signs 10-Year Carbon Removal Agreement With TD Bank

Focused on high-quality North American carbon removal credits

Zurich, June 1, 2026 – Climeworks Solutions a global leader in high quality carbon dioxide removal (CDR) portfolios, has signed a 10-year agreement to supply high-quality carbon removal credits to Toronto-Dominion Bank (TD), the sixth largest bank in North America.

Climeworks Solutions will deliver a managed portfolio of high-quality carbon removal projects. The portfolio spans multiple carbon removal pathways and technologies across North America. Climeworks Solutions will be responsible for project sourcing, due diligence and ongoing portfolio management.

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The portfolio will include carbon removal delivered through technologies such as enhanced rock weathering (ERW), biochar and bioenergy with carbon capture and storage (BECCS). These approaches are designed to deliver durable carbon removal, with removed carbon stored for long periods of time.

Climeworks Solutions will also provide access to direct air capture credits sourced from one of Climeworks’ future North American facilities. In recent months, Climeworks has taken initial steps towards large-scale deployment in Canada, including the opening of its corporate headquarters in Calgary. In the coming months, the company will focus on cold-weather testing of its direct air capture technology, a key milestone ahead of building a commercial scale plant.

“We’re excited to work with TD Bank, Climeworks Solutions’ first Canadian financial services customer and a globally leading financial institution,” said Adrian Siegrist, Chief Commercial Officer at Climeworks. “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.”

Flexibility is at the core of this innovative approach, allowing the portfolio to evolve as projects and technologies mature: “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" said Susan Thompson, Managing Director Sustainable Finance and Advisory at 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, and we are looking forward to Climeworks' innovations in Alberta,” said Nicole Vadori, Vice-President Global Sustainability at TD Bank.

About Climeworks

Climeworks is a leading high-quality carbon removal provider, combining decades of expertise in Direct Air Capture (DAC) technology with holistic carbon removal solutions.

Climeworks offers an end-to-end enterprise service for premium carbon removal. Its tailored portfolios of nature-based and engineered solutions are designed to maximize business value and minimize risks. The company runs the world's first two DAC plants in Iceland, demonstrating its core commitment to high-quality carbon removal that is backed by over 15 years of pioneering research, development, and deployment.

By advancing the most reliable solutions in the market, Climeworks accelerates the global transition to net zero, unlocking economic value for businesses, governments, and society.