Zürcher Kantonalbank and Climeworks have taken their partnership to the next level with a new contract that will see the removal of around 1,750 tons of CO2.
This latest collaboration between the Swiss bank and the global leader in direct air capture for carbon removal is a significant step forward in their joint efforts to combat climate change.
Climeworks, a Swiss company that specializes in direct air capture technology, constructs and runs its own facilities to extract CO2 from the atmosphere. Their innovative approach has garnered attention worldwide, with their “Orca” plant in Iceland being the first DAC facility in the world to have its outputs verified and recorded in the public Puro registry.
Another one of their facilities, named “Mammoth,” has been operational in Iceland since May 2024, and the company is now gearing up to introduce their third-generation technology in the United States by 2026, promising even greater efficiency in reducing carbon emissions.
Relevant: Climeworks Reveals Its Generation 3 Direct Air Capture Technology
Recognizing the company’s potential early on, Zürcher Kantonalbank has played a crucial role in assisting Climeworks in their efforts to address the global carbon footprint. The bank’s investment and collaboration with Climeworks have played a pivotal role in enabling the company to expand its operations and research efforts.
The two companies have had a strong partnership for many years, and, as of 2014, Zürcher Kantonalbank has also been an investor in Climeworks.
Read more: Climeworks Named TIME100 Most Influential Companies’ Of 2024
Urs Baumann, CEO of Zürcher Kantonalbank, stated that sustainability is ingrained in the bank’s operations, with a strong focus on achieving net-zero emissions. He added, “Our multi-year agreement with Climeworks is a key part of our net-zero strategy, which continues to prioritize emission reductions.”
By entering into this new, long-term agreement to remove CO2 from the atmosphere, the Swiss bank is setting a powerful example for other companies to follow. The partnership between Zürcher Kantonalbank and Climeworks not only benefits the environment but also reinforces the importance of corporate responsibility in tackling the pressing issue of carbon emissions.
