BCG purchases Climeworks’ CO2 capture service

Boston Consulting Group has signed a ten-year agreement with Climeworks. This stipulates that the Zurich-based company will capture a certain amount of CO2 from the air and then permanently store it underground over this period of time. BCG is purchasing this service from Climeworks as a measure to achieve its net-zero climate target by 2030.

Christoph Schweizer, CEO of BCG, comments in the largely identical press releases from the two companies: “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.” BCG, one of the largest consultancy firms in the world, has announced that this air capture agreement is to be followed by others.

The agreement between the two partners represents the second ten-year contract that Climeworks has concluded to date. In August, the spin-off from the Swiss Federal Institute of Technology in Zurichannounced a corresponding agreement with the reinsurer Swiss Re.

For BCG and Climeworks, their partnership sends strong signals to the market: “The carbon removal market’s ability to scale up fast relies on early action from pioneering companies,” Christoph Gebald, Co-CEO and Co-Founder of Climeworks, states. He adds: “Such partnerships also play a vital role in inspiring other businesses to support science-based and scalable solutions.”