The two companies are among the first corporate buyers of North America’s inaugural certified direct air capture (DAC) carbon credits, marking an early start on a technology viewed as critical to achieving net-zero emissions despite its high costs and limited scale. (The Logic)

Talking point: Calgary-based Deep Sky, which signed a 10-year agreement with TD earlier this month, said Monday that RBC and Microsoft will receive their DAC credits quarterly. Unlike conventional carbon capture that prevents emissions from industrial facilities, DAC removes carbon dioxide already in the atmosphere. Banks have increasingly turned to carbon removal credits to help meet climate commitments, though DAC remains expensive and commercially nascent. Deep Sky’s Alberta pilot captures about 3,000 tonnes of CO2 annually and reportedly plans to use the facility to scale multiple DAC technologies before developing a commercial project in Canada.