Carbon Capture Tax Credit Investment Deal

Bank of America is making its first-of-its-kind investment in carbon capture by putting $205 million into a carbon capture project in North Dakota in exchange for tax credits. The tax credits stem from 2022 federal legislation that allows project developers to tap credits even with little to no profit. The company says it can capture 200,000 metric tons annually.

WSJ | Bank of America Bets on Carbon Capture With Big Tax-Credit Deal