Management consulting firm Boston Consulting Group (BCG) has signed a deal with carbon dioxide (CO2) removal specialist Climeworks to help BCG achieve its net zero-by-2030 goals.
The ten-year agreement reflects the need expressed by the Intergovernmental Panel for Climate Change (IPCC) to hasten the scaling up of methods to fight climate change.
The agreement will see BCG purchasing Climeworks direct air capture (DAC) CO2 removal service to decarbonise its processes, in addition to BCG providing consulting services.
Climeworks’ scalable technology is currently being used for the large-scale Orca plant in Iceland with partner Carbfix, where CO2 is mixed with water before being pumped deep underground and eventually mineralising into the surrounding geology.
Adoption of the CO2 capture technology marks the first of ‘several’ agreements in DAC and advanced decarbonisation technology that BCG expects to sign.
Commenting on the agreement, Christoph Gebald, Co-CEO, Co-Founder, Climeworks, said, “After having brought the first carbon removal plant into operations earlier this year, we are proud to be partnering with BCG as the first DAC company and help 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.”
Following this year’s COP26 climate summit, carbon capture has become a household term, bolstering support for technology that could help drive emission reduction goals.
Regarding the deal as a ‘critical partnership’ for BCG, Christoph Schweizer, CEO, BCG, added, “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.”