Boston Consulting Partners with Carbon Capture Technology Company

ZURICH, December 9 (Reuters)The Boston Consulting Group has partnered with carbon capture technology company Climeworks to help grow its business, which focuses on capturing carbon dioxide directly from the air.

Under the agreement, the Boston Consulting Group (BCG) will provide consulting services aimed at helping the company grow its business and reach more clients.

It will also buy services from the group to help offset its own emissions by 2030.

“Not only will we leverage Climeworks’ services to achieve our own goal of net zero by 2030, but we will also have a much greater impact by acting as an advisory partner of Climeworks to accelerate adoption and uptake. across their services globally, ”Joachim Stephan, BCG’s boss for Switzerland, said in a statement.

The Swiss start-up Climeworks AG opened the world’s largest factory in September, which sucks carbon dioxide directly from the air and deposits it underground.

It has partnered with the Icelandic carbon storage company Carbfix to develop the plant that can suck 4,000 tonnes of carbon dioxide out of the air each year.

Direct air capture is still an emerging and expensive technology, but developers hope to bring prices down by increasing the number of businesses and consumers looking to reduce their carbon footprint.

Environmental activists have warned that other impacts on the environment and the wider ecosystem must also be assessed.

BCG said recent research has shown direct air capture technology has the potential to permanently capture and remove 1.5 billion tonnes of carbon dioxide per year by 2050, adding that it aimed to help expand the market through such partnerships.

(Reporting by Brenna Hughes Neghaiwi. Editing by Jane Merriman)

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