July 28, 2021
The Paris climate agreement ramped up the pace of ESG evolution, and we know how frequently companies are talking about it now. The rising C02 emissions have been met by one company with a unique solution: pull the carbon out of the environment. Climeworks, in Switzerland, vacuums 900 tons of carbon dioxide annually. This is a fraction of global emissions, but it's on the road to a greener future. There are other Carbon capture programs and technology in development currently, and Climeworks is expanding to Iceland. The captured carbon can be recycled to make fuel or plastics, which is why Coca-Cola is a heavy investor. One of the biggest opportunities will be for companies like Climeworks to sell carbon credits to companies that aren’t environmentally friendly allowing them to meet minimum regulatory requirements.
FINSUM + Magnifi: This interesting new technology will have to be a part of reducing global emissions because countries aren’t mitigating quickly enough, and capture could speed up the process.
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