Boston Consulting Group, an American global management consulting group, has teamed up with Climeworks, a Swiss company specializing in carbon dioxide air capture technology for developing its business, which focuses on capturing carbon dioxide directly from the air.
Under this agreement, Boston Consulting Group (BCG) will deliver its consulting services supporting the firm to scale up its activities and strengthen its customer base.
Additionally, the firm will also be acquiring services from the group to help it counterbalance its emissions by 2030.
Joachim Stephan, BCG's head of Switzerland mentioned in a statement that the firm will not only be leveraging Climework's services for achieving their net-zero target by 2030 but will also be having a far higher impact by acting as their advisory partner for driving the wider adoption and mounting up their services worldwide.
As per credible sources, in September, Swiss start-up Climeworks AG unveiled one of the largest plants in the world, which draws the carbon dioxide directly from the air and sets it underground.
Additionally, it partnered with Carbfix, an Icelandic carbon storage firm, to develop a plant that can draw around 4,000 tonnes of carbon dioxide from the air annually.
Notably, the technology of Direct air capture is still dawning and expensive. However, developers are still optimistic about bringing the prices down by scaling up as more firms and consumers are now looking forward to lessening their carbon footprint.
Moreover, environmental activists have already cautioned that the knock-on effects to the environment and broader ecosystem must also be evaluated.
According to a recent research by BCG, the direct air capture technology could capture and remove 1.5 billion tonnes of carbon dioxide per year permanently by 2050. It further expects to help to enlarge the market with such partnerships.