Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Boston Consulting teams up with carbon capture technology company

12/09/2021 | 12:00am EST

ZURICH, Dec 9 (Reuters) - Boston Consulting Group has teamed up with carbon capture technology company Climeworks to help to develop its business, which focuses on capturing carbon dioxide directly from the air.

Under the agreement, Boston Consulting Group (BCG) will provide consulting services focused on helping the firm to scale up its activities and reach more customers.

It will also purchase services from the group to help to offset its own emissions by 2030.

"Not only will we leverage Climeworks' services to achieve our own net-zero target by 2030, but we will also have a far greater impact by acting as Climeworks' advisory partner to accelerate the broader adoption and scaling of their services globally," Joachim Stephan, BCG's head of Switzerland, said in a statement.

Swiss start-up Climeworks AG in September opened the world's largest plant that sucks carbon dioxide directly from the air and deposits it underground.

It partnered with Icelandic carbon storage firm Carbfix to develop the plant https://www.reuters.com/business/environment/worlds-largest-plant-capturing-carbon-air-starts-iceland-2021-09-08 that can suck 4,000 tonnes of carbon dioxide from the air every year.

Direct air capture is still a fledgling and costly technology, but developers hope to drive down prices by scaling up as more companies and consumers look to reduce their carbon footprint.

Environmental activists have warned https://www.reuters.com/business/cop/us-firm-buries-oil-made-farm-waste-costly-carbon-tech-2021-11-10 further knock-on impacts to the environment and broader ecosystem must also be assessed.

BCG said recent research showed direct air capture technology had the potential to capture and permanently remove 1.5 billion tonnes of carbon dioxide per year by 2050, adding it aimed to help to expand the market through such partnerships. (Reporting by Brenna Hughes Neghaiwi. Editing by Jane Merriman)


ę Reuters 2021
Latest news "Economy & Forex"
02:45aLawsuit accuses Chris Brown of raping unnamed woman on Florida yacht
RE
02:37aTunisia thwarts alleged terrorist attack targeting tourist areas
RE
02:32aKillings by Islamist militia in Congo rise almost 50% in 2021, U.N. says
RE
02:17aTaiwan VP wraps up overseas trip with U.S. house speaker meeting
RE
02:11aUttar Pradesh Core Road Network Development Project - P147864
PU
02:11aTEGUCIGALPA : Water supply strengthening project - p170469
PU
02:11aEthiopia Resilient Landscapes and Livelihoods Project - P163383
PU
02:11aLilongwe Water and Sanitation Project - P163794
PU
02:11aHigher Education Development in Pakistan - P161386
PU
02:11aWORLD BANK : Shaanxi Poor Rural Areas Community Development Project - P153541
PU
Latest news "Economy & Forex"