Boston Consulting Group (BCG), a renowned global management consulting firm, has joined forces with CarbonCapture Inc., a leading direct air capture (DAC) company, to combat climate change and advance carbon removal initiatives. The partnership entails BCG's purchase of CarbonCapture's atmospheric carbon dioxide removal services and the firm's support of CarbonCapture's business strategy.
With a commitment to achieving its 2030 net-zero climate impact goal, BCG has signed a five-year agreement with CarbonCapture for the removal of 40,000 tons of carbon. This notable deal marks one of the largest publicly stated global direct air capture (DAC) offtake arrangements by volume, and it is the largest within the professional services industry.
David Webb, BCG's chief sustainability officer, expressed his enthusiasm for direct air capture as a promising technology for carbon dioxide removal. He emphasized the urgent need for innovation and scaling in order to unleash its full potential, which requires both immediate investments and long-term corporate commitments. Webb affirmed BCG's pride in partnering with CarbonCapture on this important endeavor.
The Intergovernmental Panel on Climate Change (IPCC) has stressed the necessity of rapidly reducing global emissions and removing tens to hundreds of gigatons of carbon dioxide by 2100 to limit global warming to 1.5 degrees Celsius. To drive growth in the carbon removal industry, companies must invest in the DAC sector and other cutting-edge removal technologies that facilitate scalability and cost reduction.
CarbonCapture stands out in this context with its technological platform, featuring modular hardware that can be mass-produced and an open architecture optimizing sorbents for different climates. One of its notable projects, named Bison, aims to establish a massive DAC plant in Wyoming capable of absorbing and storing five million tons of atmospheric carbon dioxide annually by 2030.
Adrian Corless, CEO and CTO of CarbonCapture expressed excitement about collaborating with BCG. Corless acknowledged BCG's exceptional thought leadership in the sustainability and carbon removal space, highlighting their significant commitment to the DAC industry through the substantial purchase of carbon removal credits.
BCG, established in 1963 as a business strategy pioneer, assists business and societal leaders in tackling their most significant challenges and seizing opportunities. Their transformative approach focuses on fostering sustainable competitive advantage, driving growth, and delivering meaningful societal impact. BCG's global teams offer innovative management consulting, technology and design, as well as corporate and digital initiatives, with a mission to help clients succeed while making a positive impact on the planet.
CarbonCapture Inc., on the other hand, specializes in the development and deployment of direct air capture units capable of removing large volumes of CO2 from the environment. The company's technological platform enables plug-and-play upgrades, mass production, unlimited scalability, and rapid technological advancements. CarbonCapture captures ambient CO2 for permanent removal or its utilization in low-carbon synthetic fuels, concrete production, and other industrial applications.
The collaboration between BCG and CarbonCapture underscores the growing recognition of the urgency to address climate change and the crucial role of carbon removal technologies. By combining BCG's expertise and commitment to sustainability with CarbonCapture's innovative DAC solutions, the partnership aims to drive significant progress towards a more sustainable and carbon-neutral future.