BCG and Climeworks sign 15-year partnership agreement

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'grid-rows-[1fr]': 'grid-rows-[0fr]'" x-bind:aria-hidden="4 != openedIndex"> <div class="overflow-hidden"> <ul class="mb-8 ml-3 mt-4"> <li class="typo-main-nav-2 hover:text-yellow-light "> <a href="/journey" x-bind:tabindex="4 == openedIndex ? 0 : -1"> Journey </a> </li> <li class="typo-main-nav-2 hover:text-yellow-light "> <a href="/leadership" x-bind:tabindex="4 == openedIndex ? 0 : -1"> Leadership </a> </li> <li class="typo-main-nav-2 hover:text-yellow-light "> <a href="/careers" x-bind:tabindex="4 == openedIndex ? 0 : -1"> Careers </a> </li> <li class="typo-main-nav-2 hover:text-yellow-light "> <a href="/sustainability" x-bind:tabindex="4 == openedIndex ? 0 : -1"> Sustainability </a> </li> <li class="typo-main-nav-2 hover:text-yellow-light "> <a href="/contact" x-bind:tabindex="4 == openedIndex ? 0 : -1"> Contact </a> </li> </ul> </div> </div> </li> </ul> </nav> <nav class="mt-12" aria-label="Account"> <ul class="typo-h5 flex space-x-4"> <li class=""><a href="https://climeworks.com/auth/email">Login</a></li> </ul> </nav> </div> <div class="col-start-[content-r] col-end-[screen-r] bg-blue-light"></div> </div> </div> <header> <div class="relative pt-[160px] pb-[100px] md:pt-[200px] bg-blue-dark"> <div class="page-container "> <div class="col-start-[content-l] col-end-[content-r]"> <div class="relative"> <h1 class="typo-h1 mb-4 text-black">BCG and Climeworks sign 15-year agreement redefining carbon removal leadership</h1> <div class="typo-h4 text-black"></div> <div class="mt-2"> <time class="typo-h5 whitespace-nowrap" datetime="2023-12-14"> 14.12.2023 </time> </div> </div> </div> </div> </div> </header> <main id="content" class="grow pt-14 md:pt-16 lg:pt-20"> <section class=" py-14 md:py-16 lg:py-20 first:-mt-14 md:first:-mt-16 lg:first:-mt-20 "> <div class="page-container "> <div class="col-start-[content-l] col-end-[content-r]"> <div class="prose"> <h2>Key take-aways: </h2><ul><li><p>Two years after signing their first carbon removal partnership in 2021, Climeworks and BCG sign an unprecedented 15-year agreement to rapidly scale high-quality carbon removal to fight global warming.</p></li><li><p>This removals purchase of 80,000 metric tons of carbon dioxide (tCO₂) is the largest of Climeworks’ corporate buyers to date.</p></li><li><p>The significant duration of the agreement underlines the crucial role of long-term commitments to fast-track the capacity build-out of high-quality removals. For this, Climeworks is a leader across multiple geographies.</p></li></ul> </div> </div> </div> </section> <section class=" py-14 md:py-16 lg:py-20 first:-mt-14 md:first:-mt-16 lg:first:-mt-20 !pt-0 "> <div class="page-container "> <div class="col-start-[content-l] col-end-[content-r]"> <div class="grid-container "> <div class="col-start-1 col-end-13 md:col-end-13"><figure> <picture> <source srcset=" /glide/containers/images/news_and_press/bcg-and-climeworks-at-cop28.jpg/6bb5c5bdcdfd96edcb61977c3ab4a92e.webp 375w, /glide/containers/images/news_and_press/bcg-and-climeworks-at-cop28.jpg/06b9ec5b6190ec2a44e1cac3251ee627.webp 640w, /glide/containers/images/news_and_press/bcg-and-climeworks-at-cop28.jpg/e5026f50972c57b8e38b79f218f67d13.webp 1280w, /glide/containers/images/news_and_press/bcg-and-climeworks-at-cop28.jpg/f481a6f589948b873f2d8e8fb7315359.webp 1920w, /glide/containers/images/news_and_press/bcg-and-climeworks-at-cop28.jpg/56a7211f70d1302c66718c2a0237705e.webp 2500w " sizes="(min-width: 1280px) 1184px, 95vw" type="image/webp" > <img width="1440" height="900" src="/glide/containers/images/news_and_press/bcg-and-climeworks-at-cop28.jpg/90eec20ffefacc5704f98011514ca054.jpg" alt="Cornelius Pieper, Christoph Gebald, and Rich Lesser at COP28 in Dubai (1 December 2023)." class="" loading="lazy" > </picture> <figcaption class="typo-small mt-2"> Cornelius Pieper, Christoph Gebald, and Rich Lesser at COP28 in Dubai (1 December 2023). </figcaption> </figure></div> </div> </div> </div> </section> <section class=" py-14 md:py-16 lg:py-20 first:-mt-14 md:first:-mt-16 lg:first:-mt-20 !pt-0 "> <div class="page-container "> <div class="col-start-[content-l] col-end-[content-r]"> <div class="prose"> <p>Climeworks, a global leader in carbon removal via direct air capture technology, and Boston Consulting Group (BCG), one of the world’s leading management consulting firms, are strengthening their collaboration with a 15-year strategic partnership agreement.</p><p>As with their <a target="_blank" href="https://www.bcg.com/press/9december2021-bcg-signs-direct-air-capture-partnership-with-climeworks" class="link">first contract in 2021</a>, this agreement entails a carbon removal purchase agreement to support BCG’s journey to Net-Zero, and an agreement for BCG to provide consulting services to Climeworks. </p><h2>Unlocking the potential of direct air capture </h2><p>The world needs direct air capture in order to reach net-zero by 2050. Major, early investment will enable this innovative technology to operate at the gigaton scale required - a scale that currently far outsizes projected supply for the coming decades. That’s why BCG has committed to help scale permanent removals like direct air capture via large-scale, long-term investment. In doing so, the firm hopes to encourage more pioneer investment in direct air capture, lower the cost curve, and scale-up this vital climate technology.</p><p>Rich Lesser, BCG’s Global Chair, emphasized at the <a target="_blank" href="/events/climeworks-direct-air-capture-summit-2023-highlights" class="link">Climeworks Direct Air Capture Summit</a> in June that “we have a responsibility, every one of us in every firm, to accelerate our journey. Early investment can change the curve and will benefit everyone.” </p> </div> </div> </div> </section> <section class=" py-14 md:py-16 lg:py-20 first:-mt-14 md:first:-mt-16 lg:first:-mt-20 !pt-0 "> <div class="page-container "> <div class="col-start-[content-l] col-end-[content-r]"> <div class="grid-container "> <div class="col-start-1 col-end-13 md:col-start-3 md:col-end-11"> <div class="relative" x-data="{swiper: null}" x-init="swiper = new Swiper.Swiper($refs.container, { modules: [Swiper.Pagination, Swiper.Keyboard], lazy: true, lazyPreloadPrevNext: 2, grabCursor: true, loop: true, slidesPerView: 1, spaceBetween: 20, pagination: { el: '.swiper-pagination-bottom', clickable: true }, keyboard: { enabled: true, onlyInViewport: true, } })"> <div class="swiper" x-ref="container"> <div class="swiper-wrapper"> <div class="swiper-slide"> <div class="flex flex-col items-center text-center"> <div class="w-2/3 max-w-[250px]"> <picture> <source srcset=" /glide/containers/images/leadership/jan-huckfeltd-new-shooting.jpg/ea263868d7ba97e7e6363d5e396d473f.webp 375w, /glide/containers/images/leadership/jan-huckfeltd-new-shooting.jpg/73978313cd4ca6d3fc9b0b316f27f95d.webp 640w, /glide/containers/images/leadership/jan-huckfeltd-new-shooting.jpg/8b339bea25e3dce76d5cd67ba91b5455.webp 1280w, /glide/containers/images/leadership/jan-huckfeltd-new-shooting.jpg/08453145d8bd26cc028fbff9fe3f4463.webp 1920w, /glide/containers/images/leadership/jan-huckfeltd-new-shooting.jpg/04d2e49e7e8bdcd610b551b5f1c3c1b4.webp 2500w " sizes="(min-width: 769px) 16rem, 50vw" type="image/webp" > <img width="2500" height="1667" src="/glide/containers/images/leadership/jan-huckfeltd-new-shooting.jpg/ba3861cf27c9ef9708d1787fc9e884e7.jpg" alt="" class="mb-4 rounded-full" aria-hidden="true" loading="lazy" > </picture> </div> <h5 class="mb-2">Jan Huckfeldt, Chief Commercial Officer of Climeworks</h5> <q>Together with BCG, we’re redefining what carbon removal stewardship looks like with an agreement going all the way up to 2040. Long-term commitments defined the success of the solar energy transition and will undoubtedly become more frequent in our industry. It sets a precedent for other climate leaders understanding that carbon removal is a necessity and securing their share of supply early in this future trillion-dollar market.</q> </div> </div> </div> <div class="swiper-pagination-bottom mt-2 text-center"></div> </div> </div> </div> </div> </div> </div> </section> <section class=" py-14 md:py-16 lg:py-20 first:-mt-14 md:first:-mt-16 lg:first:-mt-20 !pt-0 "> <div class="page-container "> <div class="col-start-[content-l] col-end-[content-r]"> <div class="prose"> <h2>Resilient investment in permanent carbon removals </h2><p>The long-term partnership will accelerate Climeworks’ global roll-out of its direct air capture and storage plants, providing planning security and fostering financing efforts – akin to how long-term contracting facilitated early solar energy projects. The contract, covering 80,000 metric tons of CO₂, represents the single largest purchase of Climeworks’ corporate buyers to date. It comes on the heels of the U.S. Department of Energy’s selection of Climeworks as the technology partner for <a rel="noreferrer noopener" target="_blank" href="https://climeworks.com/news/u-s-doe-selects-all-dac-hub-applications-climeworks-participates-in" class="link">three Direct Air Capture Hubs</a> in the U.S., as well as the company’s latest partnerships in <a rel="noreferrer noopener" target="_blank" href="https://climeworks.com/news/climeworks-and-great-carbon-valley-chart-path-to-large-scale-dac" class="link">Kenya</a> and <a rel="noreferrer noopener" target="_blank" href="https://climeworks.com/news/climeworks-collaborates-with-deep-sky" class="link">Canada</a>. </p><p>“Without carbon removal, net-zero is out of reach. This is true for BCG and across industries at large. It’s imperative that we start scaling carbon removal today, in particular high-quality solutions that are verifiable, additional, and permanent, to be able to meet the growing demand in the coming decades. Climeworks continues to be a driving force in carbon removal and is a valued partner on the path to BCG’s net zero target”, said David Webb, Chief Sustainability Officer of BCG. </p><h3>Climeworks and BCG at COP28</h3><p>At COP28 in Dubai, Climeworks’ co-founder and co-CEO Christoph Gebald and Cornelius Pieper, Managing Director and Senior Partner at BCG, sat down with BCG’s Global Chair Rich Lesser to talk about the significance of this 15-year agreement:</p> </div> </div> </div> </section> <section class=" py-14 md:py-16 lg:py-20 first:-mt-14 md:first:-mt-16 lg:first:-mt-20 !pt-0 "> <div class="page-container "> <div class="col-start-[content-l] col-end-[content-r]"> <div class="grid-container "> <div class="col-start-1 col-end-13 md:col-end-13 max-w-body-text"><div x-data="cloudinaryVideo" x-intersect="loadPlayer"> <video x-ref="player" class="cld-video-player cld-fluid" controls data-cld-poster-options={"publicId":"Cover_image_BCG_x_Climeworks_video_emrpz2"} data-cld-source="COP28_ChristophGebald_RichLeser_CorneliusPieper_Horizontal_CaptionedX_dute8c"> </video> </div></div> </div> </div> </div> </section> <section class=" py-14 md:py-16 lg:py-20 first:-mt-14 md:first:-mt-16 lg:first:-mt-20 !pt-0 "> <div class="page-container "> <div class="col-start-[content-l] col-end-[content-r]"> <div class="prose"> <h4>Learn more about the climate leaders that partner with us to remove unavoidable CO₂ emissions to zero:</h4> </div> </div> </div> </section> <section class=" py-14 md:py-16 lg:py-20 first:-mt-14 md:first:-mt-16 lg:first:-mt-20 !pt-0 "> <div class="page-container "> <div class="col-start-[content-l] col-end-[content-r]"> <div class="grid gap-x-grid-gap gap-y-14 md:grid-cols-2 md:gap-y-grid-gap lg:grid-cols-3"> <article class="group space-y-4"> <a href="/press-release/jp-morgan-chase-signs-landmark-cdr-agreement-with-climeworks" aria-label="JP Morgan Chase signs a landmark CDR agreement with Climeworks" tabindex="-1" class="block overflow-hidden"> <div class="aspect-video bg-gray-light"> <picture> <source srcset=" /glide/containers/images/customers/climeworks-jp-morgan_website.png/2ff8671d29712ca786c31c6c3293438b.webp 375w, /glide/containers/images/customers/climeworks-jp-morgan_website.png/89b2c9900428b2ce355dfb8957be9d17.webp 640w, /glide/containers/images/customers/climeworks-jp-morgan_website.png/7ee471909d689b830d0e8640f35f0a7b.webp 1280w " sizes="(min-width: 1280px) 368px, (min-width: 768px) 447px, 95vw" type="image/webp" > <img width="1440" height="900" src="/glide/containers/images/customers/climeworks-jp-morgan_website.png/595b8ad0bf6fd7c3e9908af552937fd5.png" alt="Climeworks x JPMorgan Chase&Co." class="transition-transform duration-500 group-hover:scale-105" loading="lazy" > </picture> </div> </a> <div> <h3 class="heading-h5 transition-opacity hover:opacity-60"> <a href="/press-release/jp-morgan-chase-signs-landmark-cdr-agreement-with-climeworks">JP Morgan Chase signs a landmark CDR agreement with Climeworks</a> </h3> <div class="prose"> <p class="line-clamp-6"> Valued above USD 20 million, the agreement represents one of the largest purchases to date in the direct air capture (DAC) industry. </p> </div> </div> </article> <article class="group space-y-4"> <a href="/customers" aria-label="Our customers" tabindex="-1" class="block overflow-hidden"> <div class="aspect-video bg-gray-light"> <picture> <source srcset=" /glide/containers/images/mammoth/7_bfs_climeworks-x-microsoft_hinwil-35-1.jpg/cc8d5db5b0559865bd68de264af93bd7.webp 375w, /glide/containers/images/mammoth/7_bfs_climeworks-x-microsoft_hinwil-35-1.jpg/9ac4d5df17d8f307d853c40acff4ed05.webp 640w, /glide/containers/images/mammoth/7_bfs_climeworks-x-microsoft_hinwil-35-1.jpg/e44506ef0ae79780872e17b84002372b.webp 1280w " sizes="(min-width: 1280px) 368px, (min-width: 768px) 447px, 95vw" type="image/webp" > <img width="1076" height="1080" src="/glide/containers/images/mammoth/7_bfs_climeworks-x-microsoft_hinwil-35-1.jpg/70a0d76f54772c4f87e3c18d0ada7dad.jpg" alt="Christoph Gebald, co-CEO and co-founder of Climeworks, and Brad Smith, Microsoft’s vice chair and president" class="transition-transform duration-500 group-hover:scale-105" loading="lazy" > </picture> </div> </a> <div> <h3 class="heading-h5 transition-opacity hover:opacity-60"> <a href="/customers">Our customers</a> </h3> <div class="prose"> <p class="line-clamp-6"> We work with corporations who want to get the world to net zero. </p> </div> </div> </article> </div> </div> </div> </section> <section class=" py-14 md:py-16 lg:py-20 first:-mt-14 md:first:-mt-16 lg:first:-mt-20 !pt-0 !pt-0 !pb-0 "> <div class="relative bg-blue-light py-14 md:py-16 lg:py-20 md:min-h-[400px] flex flex-col justify-center"> <div class="page-container "> <div class="col-start-[content-l] col-end-[content-r]"> <div class="flex flex-col items-center text-center space-y-6 "> <div> <h2 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