Boston Consulting Group signs up for DAC
Boston Consulting Group (BCG), among the largest consulting firms in the world by revenue, said December 9 it signed a 10-year partnership agreement to deploy direct-air carbon (DAC) storage services developed by Climeworks.
“First, as part of BCG’s commitment to reach net-zero climate impact by 2030, the firm will purchase Climeworks’s carbon dioxide removal service to capture carbon dioxide directly from the atmosphere and permanently store it underground,” the firm explained. “Second, BCG will provide consulting services to Climeworks focused on the broader adoption and scaling of their services.”
Climeworks started operations at its Orca facility in Iceland, billed as the largest DAC facility in the world, with the ability to capture 4,000 metric tons per year of CO2. Now in service, the company said Orca proves the technology can be a viable solution to climate change.
Operations commenced less than a year and a half after construction started. Located near a geothermal power plant in Iceland, the facility runs entirely on renewable energy.
BCG pointed to research published by the World Resources Institute that estimates DAC could potentially pull 15bn mt/yr of CO2 out of the air by 2050. According to the International Energy Agency (IEA), DAC capacity currently is around 9,000 mt/yr.
“Not only will we use Climeworks services to help meet our own net zero goal by 2030, but we will also aim to make an even greater impact by acting as a consulting partner to Climeworks to help accelerate the broader adoption and scaling of their services worldwide,” BCG CEO Christoph Schweizer said.