In Switzerland, Schneider Electric and Climeworks announced a major agreement to remove 31,000 tons of carbon dioxide from the atmosphere by 2039. This represents Schneider Electric’s first purchase of high-durability carbon removal and Climeworks’ largest-ever portfolio agreement to date.
On behalf of Schneider Electric, Climeworks will remove 31,000 tons of CO2 through three high-durability solutions: Direct Air Capture and Storage, Bioenergy with Carbon Capture and Storage, and Enhanced Rock Weathering. Each of these solutions can store CO2 for thousands of years.
This landmark agreement complements Schneider Electric’s emissions reduction efforts. The company is committed to becoming net zero across its entire value chain by 2050 and achieving “net-zero ready” operations, including a 90% reduction of CO2 emissions for Scope 1 and 2, by 2030 (from 2017 baseline). The carbon removal credits issued from these projects will neutralize a portion of the estimated residual emissions once the company achieves this target. By securing access to high-durability carbon removal today, Schneider Electric is addressing future neutralization needs while pursuing aggressive emissions reductions and supporting the scale-up of an industry crucial for achieving net zero.
Tags: Schneider Electri, Switzerland
Category: Fuels
