How do carbon removal solutions fight climate change?
To overcome humanity’s greatest challenge, we need all carbon removal solutions to work together.
Key take-aways:
Swarovski signs a 5-year carbon dioxide removal agreement with Climeworks, which forms part of the jewelry company’s greenhouse gas plan
Swarovski joined the Science Based Targets initiative in 2021, announcing its commitment to reduce absolute scope 1 and 2 emissions by 47% and scope 3 emissions by 28% by 2030
In addition, Swarovski wants to get started on carbon removal as well, acknowledging the importance of removing residual and historic CO₂ emissions from the atmosphere on top of emissions reductions
Through this agreement, Swarovski signals that high-quality carbon removal must be part of any climate strategy, and hopes to inspire other companies to begin their own carbon removal journey
In order to limit global warming to 1.5°C, the world needs to reach net-zero emissions by mid-century, and net-negative emissions after that. To achieve this, global CO₂ emissions must be drastically reduced as much as possible and on top of that, any residual and historic emissions need to be actively removed from the atmosphere.
Acknowledging the importance of this, Swarovski enters a five-year agreement with Climeworks. The agreement is the first step that Swarovski takes towards high-quality carbon removal and forms part of its cohesive greenhouse gas plan to reduce, offset, and remove CO₂ emissions. With this, Swarovski wants to highlight that a climate strategy without carbon removal essentially means committing to polluting less today without clearing up the pollution accumulated so far.
In order to follow a verified greenhouse gas reduction approach, Swarovski joined the Science Based Targets initiative in 2021, announcing its commitment to reduce absolute scope 1 and 2 emissions (direct and indirect emissions from owned operations) by 47% and scope 3 emissions (indirect emissions from non-owned operations) by 28%, by 2030.
As Swarovski CEO ad interim, Michele Molon further expounds: "In 2021 we strengthened our sustainability strategy, focusing on the key area of climate mitigation. With the firm belief that scientific knowledge is indispensable to understanding and creating change, we also aligned with the Science Based Targets initiative to further our commitment. By signing this carbon removal agreement with Climeworks, we are marking our continued journey to confront one of our planet‘s most pressing issues.”
To drastically reduce its global carbon footprint, Swarovski is investing substantially in more efficient manufacturing operations, further reducing energy consumption in all its new stores, sourcing more sustainable materials for products, packaging, and architecture, and undertaking large-scale initiatives that will positively impact the transport of goods and other steps along the value chain.
Innovation is a key part of winning the ongoing climate battle. Through this new agreement with Climeworks, Swarovski hopes to set an example by inspiring others to begin their own carbon removal journey and strive for a climate-positive world.
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