High-quality carbon dioxide removal (CDR) pioneer Climeworks has signed two new long-term agreements, one with social media platform TikTok and a second one with UK rum distillery Two Drifters.
Under these multi-year contracts, Climeworks will work to remove a total of over 6,000 tons of carbon dioxide from the atmosphere.
In the agreement with TikTok, 5,100 tons of carbon removal will be delivered by 2030 through a portfolio of different engineered technologies and nature-based approaches, including direct air capture (DAC), biochar, and reforestation.
TikTok’s Global Head of Sustainability Ian Gill commented, “We carefully evaluated multiple providers to build a high-quality carbon removal portfolio. Climeworks provided a solution that meets our highest standards and aligns perfectly with our sustainability strategy as we work toward carbon neutrality by 2030.”
The second long-term contract was signed with British rum producer Two Drifters Distillery. This partnership builds on a previous successful collaboration between the distillery and Climeworks that was launched back in 2020.
As part of the newly signed deal with Two Drifters, by 2032 Climeworks will remove an additional 1,067 tons of carbon dioxide with the help of direct air capture technology.
On their end, Two Drifters have come up with an innovative approach for integrating carbon removal into their business operations. The company has shared that it factors the cost of CDR into its Cost of Goods Sold, incentivizing the reduction of emissions.
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As Two Drifters Co-Founder Dr. Russ Wakeham explained, “The more carbon we avoid through sustainable practices, the greater our margins become.”
Besides its trailblazing direct air capture operations, in 2019, Climeworks also launched the world’s first online self-service CDR platform, attracting over 21,000 individual customers so far, along with a rising number of small and medium-sized companies, as well as large corporations.
Looking ahead, the company will continue scaling its operations in order to meet the growing demand for carbon removal by companies looking to meet their net-zero goals and transition towards more sustainable practices.
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