Morgan Stanley partners with Climeworks to remove CO₂
We will permanently remove 40,000 tons of CO₂ from the air for Morgan Stanley. The partnership lasts until 2037 and represents Climeworks' second-largest contract to date.
Key take-aways:
Climeworks has secured partnerships with TikTok and Two Drifters Distillery to remove over 6,000 tons of CO₂.
We will remove CO₂ for TikTok through a portfolio of Direct Air Capture, Biochar, and Reforestation, and continue our collaboration with Two Drifters focused on our Direct Air Capture technology.
The deals highlight the growing demand for carbon removal solutions across different industries as companies work toward their net-zero goals and hedge against future price spikes, boosting long-term profitability.
TikTok has committed to a multi-year partnership with Climeworks, integrating engineered and nature-based solutions into its carbon removal portfolio. Until 2030, Climeworks will remove 5,100 tons of CO₂ from the air for TikTok through a portfolio of Direct Air Capture technology, Biochar, and Reforestation. This diversified approach aligns with best practices for carbon removal and reflects TikTok’s broader sustainability strategy.
Ian Gill, Global Head of Sustainability at TikTok, emphasizes the company’s commitment: “We carefully evaluated multiple providers to build a high-quality carbon removal portfolio. Climeworks provided a solution that meets our highest standards and aligns perfectly with our sustainability strategy as we work toward carbon neutrality by 2030.”
Financial advantage in changing market
Investing in carbon removal today is not just about sustainability—it’s a strategic financial decision. As industry standards evolve and carbon pricing mechanisms mature, companies securing long-term agreements can mitigate future price volatility.
Adrian Siegrist, Chief Commercial Officer at Climeworks
The way companies approach carbon removal is different from two years ago. We see a new wave of buyers emerging, recognizing that early investments in high-quality solutions will pay off in the long run. Diversified carbon removal portfolios are becoming the new norm to increase delivery security and hedge against potential price spikes. Carbon removal may be intangible, but its financial impact will be black on white on the balance sheets of companies aiming for net zero.
Embedding carbon removal in business models
Also taking action is Two Drifters Distillery, which has strengthened its commitment to carbon removal by signing a long-term contract with Climeworks. The British rum producer has been working with Climeworks since 2020 and will now remove an additional 1,067 tons of CO₂ via Direct Air Capture by 2032. What sets Two Drifters apart is their pioneering approach: They factor the cost of carbon removal directly into their Cost of Goods Sold, creating a financial incentive to reduce emissions. Dr. Russ Wakeham, Co-Founder of Two Drifters, explains, “The more carbon we avoid through sustainable practices, the greater our margins become.” This integration of sustainability into their core business model underscores the economic viability of carbon removal.
Carbon removal as a service for everyone
Since launching the world’s first online self-service carbon removal platform in 2019, Climeworks has attracted over 21,000 individual customers, including a growing number of small- and medium-sized enterprises, alongside major corporations. Organizations such as pharmaceutical company ten23 health and web design firm 118Group, for example, have lately purchased carbon removal from Climeworks’ self-service online shop to mitigate their environmental impact.
As more companies recognize the strategic and financial benefits of carbon removal, Climeworks continues to scale its operations, offering tailored carbon removal portfolios so that businesses meet their net-zero targets while strengthening their long-term economic case.
Learn more about the leading businesses that remove CO₂ with Climeworks:
Climeworks signs British Airways as third airline customer
Climeworks will permanently remove CO₂ emissions from the air on behalf of British Airways. The airline is building a broad portfolio of carbon removals to stimulate the market.
Breitling joins forces with Climeworks for its net-zero strategy
Breitling and Climeworks closed a first-of-its-kind 12-year agreement, advancing Breitling’s existing net-zero roadmap and accelerating efforts to take pioneering climate action.
Lead the race toward net zero
High-quality carbon removal for your climate strategy.