Boston Consulting Group (BCG) has fortified its climate action strategy with a new carbon dioxide removal (CDR) purchase agreement with ClimeFi, buying 50,250 tonnes of certified, durable CO2 removals.
This deal brings the total of CDR investment by BCG to date to 200,000 tonnes, placing the company in the list of the top 10 buyers of durable carbon removal globally, according to CO2 reporting platform CDR.fyi.
As part of a broader plan for neutralizing carbon emissions, Boston Consulting Group partnered with ClimeFi, one of the leading platforms for durable CDR, choosing to support a wide portfolio of projects based on different decarbonization technologies.
The purchase represents BCG’s second-largest investment in durable carbon removal so far, expected to be delivered by the end of 2026.
Beyond solely addressing its own carbon footprint, with this investment decision, BCG wants to also provide support to novel technologies and solutions that deliver impactful environmental results.
Under the collaboration, ClimeFi will select projects that correspond to the needs of BCG, handling transactions on behalf of the management consulting company.
Having increased its investment in biochar technology with new projects provided by Exomad Green and Euthenia Energy, BCG will also tap into other carbon removal approaches through the partnership with ClimeFi, including enhanced rock weathering (ERW), microbial carbon mineralization and mineralization into building materials, as well as subsurface biomass storage.
These innovative carbon removal mechanisms are developed by Lithos Carbon, Andes, O.C.O: Technologies and Graphyte.
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Commenting on the agreement, ClimeFi CEO Paolo Piffarett shared that they are delighted to work with BCG, helping them expand their carbon removal portfolio.
He added, “BCG continues to demonstrate leadership in driving the CDR market forward, and their desire to explore diverse CDR solutions is critical to ensuring the sustainable growth of the market. We greatly appreciate the trust they have given us to build this portfolio and execute transactions with a range of companies on their behalf.”
Read more: ClimeFi And XPRIZE Launch “Global 1000 CDR Challenge” At COP29
