Climeworks and Swiss Re ink 'world's first' 10-year deal for direct air carbon capture and storage

James Murray
clock • 2 min read
Construction site for the pioneering Climeworks CO2 removal and storage facility in Iceland, known as Orca
Image:

Construction site for the pioneering Climeworks CO2 removal and storage facility in Iceland, known as Orca

New $10m agreement will see Climeworks capture and store carbon emissions on behalf of the risk management giant

The fledgling direct air carbon capture sector has this week chalked off another major milestone, as Climeworks announced it has signed the world's "first and largest" 10-year carbon removal purchase agreement...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Technology

Study: Energy efficiency could save industrial sector four million tonnes of CO2 over 10 years

Study: Energy efficiency could save industrial sector four million tonnes of CO2 over 10 years

Results from the Industrial Energy Efficiency Accelerator detail how 13 proven solutions could slash emissions and energy bills for industrial firms

clock 11 December 2025 • 3 min read
How 'everyday AI' encourages overconsumption

How 'everyday AI' encourages overconsumption

AI is increasingly ubiquitous online and in e-commerce services, but it comes with huge environmental implications

Jutta Haider, University of Borås; Björn Ekström, University of Borås, and James White, Lund University - The Conversation
clock 11 December 2025 • 5 min read
We need new human rights and due diligence laws

We need new human rights and due diligence laws

Craig Melson from techUK argues the government needs to use the new Responsible Business Conduct review to deliver new requirements on tackling environmental and human rights risks in supply chains

Craig Melson, techUK
clock 11 December 2025 • 3 min read