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Shopify Inc
Symbol SHOP
Shares Issued 1,220,477,577
Close 2025-09-09 C$ 198.83
Market Cap C$ 242,667,556,635
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Globe says RBC, Shopify hear carbon removal needs help

2025-09-10 08:24 ET - In the News

See In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Wednesday edition that Canadian companies that capture carbon dioxide from the atmosphere to help combat climate change can be leaders in the young sector if Ottawa helps bolster demand and sets up a supportive market framework, a global industry coalition says. The Globe's Jeffrey Jones writes the country has the technology and natural advantages to take the industry beyond its current pilot projects, said the Carbon Business Council, which represents more than 100 carbon-dioxide removal, or CDR, companies worldwide. But it will need federal help unlocking that potential to be a competitive force and tool for helping to reach Canada's net-zero target. Extracting CO2 from the atmosphere differs from capturing it from point sources such as refinery smokestacks. The council, led by a Canadian working group, released a policy primer on Wednesday calling on Mark Carney's government to implement a series of supportive policies. As it stands, Canada is a "hotbed" of private CDR investments, with the likes of Shopify and RBC active in purchasing carbon removal credits. However, much of the financing is still early stage, and more is needed to help the industry expand and create more jobs.

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