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Boston Consulting Group (BCG) has introduced the acquisition of fifty,250 tonnes of carbon dioxide removals (CDRs) by means of ClimeFia portfolio supervisor specializing in everlasting carbon removing. This transaction brings BCG’s complete CDR purchases to just about 200,000 tonnes, putting the agency among the many high 10 international consumers of sturdy carbon removing credit, based on CDR.fyia platform that tracks the CDR market.
The acquisition is a part of BCG’s ongoing efforts to neutralize its carbon emissions by 2030. By means of its collaboration with ClimeFi, the agency has gained entry to a variety of carbon removing tasks, every using completely different strategies to completely sequester CO2. These tasks will likely be repeatedly monitored for efficiency by ClimeFi.
Along with growing its investments in biochar by means of tasks with Exomad Inexperienced and Euthenia Vitality, BCG is increasing its portfolio to incorporate a number of different carbon removing applied sciences. These embody:
- Lithoswhich makes use of enhanced rock weathering to seize CO2 in minerals
- Andeswhich employs microbial mineralization to speed up carbon removing in soils
- O.C.O. Expertise Ltdwhich focuses on concrete mineralization to retailer CO2 in constructing supplies
- Graphytewhich makes a speciality of subsurface biomass burial for long-term carbon storage
By supporting quite a lot of carbon removing approaches, BCG goals to scale back dangers and scale options that contribute to broader local weather targets. The variety of those tasks displays the agency’s technique to put money into a number of applied sciences that handle carbon removing from completely different angles.
David Webb, BCG’s Chief Sustainability Officer, famous that the agency’s continued funding in CDR applied sciences aligns with its dedication to sustainability and efforts to neutralize its personal emissions. “Through this expanded portfolio, we aim to support the development of carbon removal solutions that are essential to global climate targets,” Webb stated.
Paolo Piffaretti, CEO of ClimeFi, additionally commented on the partnership, saying, “We are pleased to support BCG in expanding its carbon removal portfolio through this transaction. Their interest in exploring a range of CDR solutions is an important contribution to the growth and diversification of the carbon removal market.”
This comes after ClimeFi recently announced the Global1000 challenge along with XPrize on the 2024 COP.
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