Boston Consulting Group (BCG) introduced that it has bought 50,250 tonnes of licensed carbon dioxide removals (CDRs) by CDR portfolio supervisor ClimeFi, to be delivered over the following two years, and spanning a broad set of carbon removing applied sciences.
The settlement marks the second largest CDR buy up to now for BCG, following the corporate’s dedication to neutralize 100% of its emissions by high-quality carbon removing credit by 2030 and to take away extra carbon from the ambiance than it emits past 2030.
It additionally units BCG throughout the high 10 international carbon removing consumers, based on CDR platform CDR.fyi, with almost 200,000 tonnes bought up to now.
David Webb, BCG’s Chief Sustainability Officer, stated:
“By persevering with to develop the CDR applied sciences we help, we’re not solely securing high-quality sturdy removals to neutralize our emissions, however serving to to unlock the potential of those applied sciences to contribute to international local weather targets.”
Based in 2022, France-based ClimeFi (previously CarbonX) companions with corporations to construct a portfolio of licensed CDR belongings. The applied sciences included within the BCG buy embody enhanced rock weathering (ERW) by supplier Lithos Carbon, microbial carbon mineralization on agricultural fields by Andes, concrete mineralization by O.C.O, and subsurface biomass storage by Graphyte. By utilizing a various set of applied sciences, BCG stated that the settlement will assist scale a number of approaches to carbon removing.
Paolo Piffaretti, CEO of ClimeFi, stated:
“We’re delighted to be collaborating with BCG and serving to them to develop their carbon removing portfolio by way of this new collection of transactions. BCG continues to display management in driving the CDR market ahead and their need to discover numerous CDR options is important to making sure the sustainable development of the market.”
