A concrete way to permanently store CO2

Toronto, November 22, 2023 – As part of Deloitte Canada’s commitment to sustainability and climate action, the firm announced its multi-year agreement with CarbonCure Technologies for the purchase of high-quality carbon credits. Through this agreement, Deloitte will directly support the deployment of CarbonCure's carbon removal technologies around the globe.

Recognized as the North American Cleantech Company of the Year in 2020, and grand prize winner of the Carbon XPRIZE in 2021, CarbonCure is one of the leading Canadian carbon removal technology companies. Their technologies inject captured and liquefied CO2 from industries and Direct Air Capture (DAC) into concrete. This not only permanently stores CO2, but increases the concrete’s strength, resulting in economic and climate benefits.

The multi-year agreement helps evolve Deloitte’s carbon management strategy to support development and scale of meaningful market solutions.

"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,” says Sheri Penner, Managing Partner of Purpose and Sustainability at Deloitte Canada. “As part of Deloitte’s commitment to a 1.5-degree aligned science-based target, we are pleased to support Canadian clean technology innovations with CarbonCure."

Harnessing cutting-edge technologies, CarbonCure blends CO2 with concrete ingredients, transforming it into a substance that enhances the strength of concrete while reducing the reliance on its key, carbon-intensive ingredient, cement. Cement manufacturing accounts for an estimated 7 per cent of global carbon dioxide emissions - three times the CO2 footprint of global aviation.

Concrete is the world’s most utilized construction material with approximately 30 billion tons poured each year. CarbonCure’s leading technology for ready mix concrete reduces this environmental impact generally by about 5 per cent per truckload.

“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,” says Robert Niven, CEO of CarbonCure. “Together, we can drive innovation and sustainability to new heights.”

The Intergovernmental Panel for Climate Change (IPCC) recognizes the importance of carbon removals in achieving Net-Zero and limiting global temperature increase to 1.5°C. Deloitte Canada is proud to be at the forefront of this movement, actively working to scale the supply of carbon removals and promote high-integrity carbon credits.