• Climeworks, a Swiss direct air capture (DAC) startup, has signed a 9-year carbon removal agreement with PwC Switzerland, an audit and advisory firm.

• PwC Switzerland drives a net-zero strategy by 2030 and relies on two pillars. One initiative involves reducing its scope 1 and 2 carbon emissions by switching to 100% renewable electricity sources and use of public transport. The second approach is supported by PwC Switzerland’s partnership announced with Climeworks which involves the removal of carbon emissions through DAC technologies.

<ul><li> Analyst QuickTake: Climeworks announced the launch of Mammoth , the world’s largest DAC and storage plant, to permanently remove CO2 in June 2022. This facility allows the company to scale up its proprietary DAC technologies. Climeworks added UBS to its customer portfolio in August 2022 as its first financial services provider, followed by the company’s recent carbon removal agreement with Microsoft in July 2022. Climeworks has also signed 10-year carbon removal agreements with Rothesay , LGT , BCG , and Swiss Re .</ul>