Financial services group Rothschild & Co announced that it has signed a multiyear carbon credit agreement with carbon removal company Capture6.
This partnership forms part of the financial group’s strategy for reaching their broader 2030 climate targets while also stimulating the development of carbon removal solutions.
As stated by Anne Imbach, Group Head of Sustainability at Rothschild & Co, this deal represents a step towards building a balanced portfolio for the company’s carbon compensation plans, which, besides decarbonization targets, include a commitment to remove an equivalent amount of CO2 for all its residual and unavoidable operational emissions by 2030.
Imbach shared, “Through this multi-year partnership with Capture6, we have an opportunity to support carbon removal technologies with promising signs of scalability and strong benefits beyond carbon removal.”
Founded towards the end of 2021 by Ethan Cohen-Cole and Luke Shors, Capture6 stands out on the market as a company that offers a permanent and irreversible carbon dioxide removal (CDR) solution at a price point lower than other tech approaches available currently.
With active operations in California and New Zealand, the company is centered around delivering joint removal and decarbonization systems that are affordable, accountable, and have the potential to reach gigaton removal scale.
Through partnerships with water treatment facilities, the innovative technology of Capture6 uses wastewater brine to capture CO2 from the atmosphere.
Relevant: Capture6 Breaks Ground On Its New DAC+Water Treatment Project, Announces New Partnership
This decarbonization approach not only successfully tackles atmospheric carbon dioxide emissions but also produces fresh water, offering a feasible solution to the problem of water scarcity in local communities.
With the long-term carbon credit purchase by Rothschild & Co, Capture6 will have the financial backbone needed to further refine its technology and expand its reach.
Commenting on this announcement, Capture6 CEO Ethan Cohen-Cole, said, “We are thrilled to have agreed to this carbon removal purchase from Rothschild & Co to help advance our projects.”
Cohen-Cole added, “This financial support is critical for our projects and, we believe, to demonstrate a pathway to gigaton-scale removal that is complimentary to decarbonization and climate resilience building efforts.”
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