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Climeworks branches into carbon removal trading

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Axios or enjoy below:

🗞️ Driving the news: Climeworks, a pioneer in direct air capture technology, has launched Climeworks Solutions, a new division offering diverse carbon removal services including both engineered and natural solutions
• This expansion allows companies to purchase tailored carbon removal portfolios

🔭 The context: Previously focusing solely on its direct air capture facilities, Climeworks has used its expertise and insights to broaden its offerings
• The company's new venture represents a strategic evolution, leveraging their deep understanding of carbon removal technologies

🌍 Why it matters for the planet: Carbon removal is crucial for achieving the Paris Agreement targets. With global CO2 levels still rising, effective and scalable solutions like those Climeworks is developing are vital for mitigating climate impacts

⏭️ What's next: Climeworks Solutions aims to standardize and simplify the purchase of carbon removal solutions for companies
• This could set a precedent for the carbon removal industry, influencing how other companies approach the market

💬 One quote: "We will offer holistic carbon removal solutions, including our own direct air capture," said Adrian Siegrist, VP of Climeworks Solutions. "And on top of that, non-direct air capture carbon removal from other suppliers ... with the stamp of the Climeworks quality bar, pre-vetted with a very, very selective vetting process."

Click for more news covering the latest on carbon


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