McKinsey partners with Stripe, Alphabet, Shopify, and Meta on $925 million carbon removal commitment

McKinsey Sustainability are partnering with Alphabet, Shopify, Meta and Stripe in an eight-year $925 million commitment to accelerate the development of permanent carbon removal technologies by guaranteeing future demand. The joint effort, called Frontier, is an advanced market commitment (AMC), which aims to expand the global supply of carbon removal, rather than increase competition for the supply that exists today. McKinsey’s insights have shaped the climate dialogue for more than a decade and this partnership is yet another step in our commitment to building a more sustainable future. “Reaching net…

Read More

LGT and Climeworks close one of the largest-ever direct air capture agreements – the financial services industry at the forefront of carbon removal

Recent developments, such as new initiatives launched during COP26 or the release of the new SBTi Net Zero Standard, prove that high-quality carbon removal must be an essential component of net zero roadmaps in addition to emissions reduction efforts. LGT, the world’s largest family-owned private banking and asset management group, has just signed a ten-year carbon removal agreement with Climeworks to remove 9’000 tons of CO₂ from the air – the largest-ever direct air capture agreement signed by a bank. LGT’s purchase is the third ten-year agreement for Climeworks within…

Read More