Schneider Electric has announced a new agreement with Climeworks, a leader in carbon removal, to remove 31,000 tonnes of CO₂ from the atmosphere by 2039. This purchase is Schneider Electric’s first of high-durability carbon removal and is intended to complement their existing emissions reduction efforts as they work toward their long-term net-zero commitments. The agreement encompasses three distinct solutions for carbon removal and storage—Direct Air Capture and Storage, Bioenergy with Carbon Capture and Storage, and Enhanced Rock Weathering—all of which are designed to ensure carbon is stored for thousands of years.

According to Esther Finidori, Schneider Electric’s Chief Sustainability Officer, the collaboration extends beyond a simple purchase, as the two companies are also working on joint technology innovation to reduce the cost of Direct Air Capture. This is considered a significant step for widespread deployment of such technologies.

Schneider Electric has publicly committed to achieving net-zero across its entire value chain by 2050. The company also has a more immediate goal of “net-zero ready” operations by 2030, which includes a 90% reduction in Scope 1 and 2 CO₂ emissions from a 2017 baseline, with residual emissions being neutralized by high-quality carbon removals. This long-term agreement with Climeworks is part of this strategic approach, showcasing how long-term partnerships and commitments can support the transition to a net-zero future.

SOURCE: Schneider Electric signs long-term carbon removal purchase deal with Climeworks