BOSTON—Boston Consulting Group (BCG), one of the world’s leading strategic management consultancies, has signed a ten-year partnership with Climeworks, a leader in carbon dioxide removal via direct air capture (DAC).
This is the first of several agreements in direct air capture and advanced decarbonization technology BCG expects to sign, and has two key elements. First, as part of BCG’s commitment to reach net-zero climate impact by 2030, the firm will purchase Climeworks’s carbon dioxide removal service to capture carbon dioxide directly from the atmosphere and permanently store it underground. Second, BCG will provide consulting services to Climeworks focused on the broader adoption and scaling of their services.
Powered by 100% renewable energy, Climeworks’s DAC technology captures carbon dioxide directly from the air, which is then stored underground in volcanic rock using a mineralization process by Carbfix. This process ensures that the captured carbon dioxide is stored for thousands of years, offering the most permanent carbon removal solution currently available. DAC also has the added benefits of limiting competition for arable land, reducing water usage and minimizing impact to ecosystems.
The permanent removal of carbon dioxide from the atmosphere at a significant scale is vital to meeting net zero globally. According to the latest research, DAC has the potential to capture and permanently remove 1.5 billion metric tons of CO2 per year by 2050. The IEA states that today, DAC capacity is 9,000 metric tons per year. With this agreement, and others in this space still to come, BCG’s goal is to help unlock a meaningful DAC capacity by establishing long-term partnerships with DAC leaders to help scale the broader market and demonstrate the significant impact DAC can have in enabling companies to get to net-zero climate impact.
“This is a critical partnership for BCG in our quest to lead in the decarbonization space. Not only will we use Climeworks services to help meet our own net zero goal by 2030, but we will also aim to make an even greater impact by acting as a consulting partner to Climeworks to help accelerate the broader adoption and scaling of their services worldwide,” said Christoph Schweizer, BCG’s CEO.
“The carbon removal market’s ability to scale up fast relies on early action from pioneering companies. After having brought the first carbon removal plant into operation earlier this year, we are proud to be partnering with BCG as the first direct air capture company and helping them achieve their 2030 net zero ambition. Such partnerships also play a vital role in inspiring other businesses to support science-based and scalable solutions,” said Christoph Gebald, co-CEO and co-founder of Climeworks.
Read more about BCG’s net-zero commitment here:
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Climeworks empowers people to reverse climate change by permanently removing carbon dioxide from the air. One of two things happens to the Climeworks air-captured carbon dioxide: either it is returned to earth, stored safely and permanently away for millions of years, or it is upcycled into climate-friendly products such as carbon-neutral fuels and materials. The Climeworks direct air capture technology runs exclusively on clean energy, and the modular CO2 collectors can be stacked to build machines of any size. Founded by engineers Christoph Gebald and Jan Wurzbacher, Climeworks strives to inspire 1 billion people to act now and remove carbon dioxide from the air. Together we can build a climate-positive world. Join us!