Together with its project partners, Climeworks received Notification of Selection for three out of three direct air capture hub proposals from the U.S. Department of Energy.
New York City as a hub for climate action
As the largest annual climate event of its kind, Climate Week NYC brings together representatives of governments, businesses, and civil society from all over the world with the aim to drive forward global climate action. More than 400 events across the city transformed New York into a hub for climate action - and we were excited to be part of it.
Climeworks was represented by several team members and leaders at Climate Week NYC who had the opportunity to discuss climate action and high-quality carbon removal with a diverse set of business leaders, policy shapers, and community groups – both at external events and at our own Climeworks-hosted events.
Here are four key takeaways for sustainability leaders:
It is now a well-known fact that climate action includes carbon dioxide removal (CDR), which must be embedded in a corporate strategy alongside drastic emissions reductions – most organizations we spoke to are in accordance with this and acknowledge the importance of CDR.
Corporate buyers who take a science-based approach to CDR have a strong foundation for meeting their net-zero targets.
U.S. climate action and economic growth are interdependent, there will only be a flourishing economy with a sustainable transformation of society.
Industrial development in climate tech can only be successful if local communities are an integral part of that development, not an afterthought.
An overview of the week-long activities in New York
At Climate Week NYC, Climeworks was represented by our co-CEO and co-founder Christoph Gebald, Chief Commercial Officer Jan Huckfeldt, Chief Financial Officer Andreas Aepli, Chief Operations Officer Douglas Chan, and Chief Marketing Officer Julie Gosalvez, along with several team members across our Commercial, Climate Policy, Marketing, and Finance teams. Here are some highlights of the week.
The highlight of the first day was the announcement of our new partnership with Puro.earth, which our Head of Strategy and Corporate Planning Adrian Siegrist spoke about at the Puro.earth CDR Summit. For our co-CEO and co-founder Christoph Gebald, Climate Week kicked off with the Sustainable Markets Initiative (SMI) CEO dinner on Monday. SMI was launched by His Majesty King Charles III in 2020 and convenes top organizations from industry, financial services, and governments to further a just and sustainable transition. In parallel, CCO Jan Huckfeldt attended a thought leadership panel by JPMorgan and our CFO participated in the Climate Week NYC Climate Leaders’ Reception where senior leaders from business, government and civil society gathered for an evening reception, to debate the bold agenda needed for global climate action.
Following the SMI CEO dinner on Monday, our co-CEO and co-founder Christoph Gebald attended the SMI CEO Summit on Tuesday. CEOs gathered here to discuss their companies’ strategic objectives with regard to sustainability and climate action. We were pleased to witness high-quality CDR being high on corporate agendas. On Tuesday we also had the privilege to attend a media breakfast organized by Carbon180 and Carbon Removal Alliance, where we highlighted once more our new collaboration with Puro.earth.
Nasdaq hosted several impactful events during Climate Week, underlining the importance of investing in climate action today. On Wednesday, Climeworks’ co-founder and co-CEO Christoph Gebald had the opportunity to ring the closing bell at Nasdaq while Climeworks’ branding was displayed on the Nasdaq Tower at Time Square in the morning. Christoph Gebald and CCO Jan Huckfeldt moreover attended Microsoft’s Carbon Call, which brought together corporations, regulators, standard setters, and philanthropies to present actionable solutions that help companies overcome constraints when gathering, interpreting, and sharing emissions data. In the meantime, our CFO Andreas Aepli attended Forbes’ Sustainability Summit discussing how innovations can be adopted by business to make meaningful change.
Climeworks hosted a series of events focused on high-quality carbon removal on September 21, including workshops and networking opportunities. Through these gatherings, Climeworks’ goal was to bring together all stakeholders that are key to the deployment of carbon removal at scale, in a timely, qualitative, equitable, and just manner. Learn more about the highlights of our events. On this day Climeworks also announced the new collaboration with Great Carbon Valley (GCV) to explore large-scale DAC+S in Kenya. Co-founder and co-CEO Christoph Gebald and Bilha Ndirangu, CEO of GCV, met with Ali Mohamed, Climate Change Envoy at the Executive Office of the President of Kenya, to discuss the project earlier in the week. We had the pleasure of welcoming Bilha Ndirangu for a brief speech at our CDR happy hour.
Bringing together experts from across the industry, Climeworks’ first event series in the U.S. created a hub for carbon removal to inspire and further accelerate the conversation about high-quality CDR solutions at Climate Week NYC 2023. The insights shared by our speakers provided both the Climeworks team and our guests with a refreshed appetite for climate action that we hope to see materialized soon.
The U.S. is a strategic market for Climeworks due to its favorable political and commercial environment. This August, the three DAC Hub proposals that Climeworks participated in were selected by the U.S. Department of Energy. Climate Week NYC was therefore also a unique platform for us to meet with stakeholders that we aim to work with more closely over the coming years. As a global leader in the industry, we look forward to bringing CDR via DAC+S to life in the U.S.
Climeworks outlines its intent to engage in several large-scale DAC projects over the next few years, with the potential to create thousands of direct U.S. jobs in the process.