Schneider Electric, the global leader in the digital transformation of energy management and automation, and Climeworks, a global leader in carbon removal, announced a major agreement to remove 31,000 tons of carbon dioxide from the atmosphere by 2039.

This represents Schneider Electric’s first purchase of high-durability carbon removal and Climeworks’ largest-ever portfolio agreement to date.

On behalf of Schneider Electric, Climeworks will remove 31,000 tons of CO2 through three high-durability solutions: Direct Air Capture and Storage, Bioenergy with Carbon Capture and Storage, and Enhanced Rock Weathering. Each of these solutions can store CO2 for thousands of years.

This agreement complements Schneider Electric’s emissions reduction efforts. The company is committed to becoming net zero across its entire value chain by 2050 and achieving “net-zero ready” operations, including a 90% reduction of CO2 emissions for Scope 1 and 2, by 2030 (from 2017 baseline). The carbon removal credits issued from these projects will neutralize a portion of the estimated residual emissions once the company achieves this target. By securing access to high-durability carbon removal today, Schneider Electric is addressing future neutralization needs while pursuing aggressive emissions reductions and supporting the scale-up of an industry crucial for achieving net zero.

“Both carbon removal and carbon reduction are fundamental to achieving our climate goals, as well as those of the planet. The move into durable carbon removal that we’re making today complements our continuous efforts on accelerating emissions reductions, and our existing investments in nature-based carbon removal. Here’s an emerging industry, where early engagement catalyzes the scale-up of a wide range of technologies and supports the path for Schneider Electric and others in the future. In Climeworks, we have found a partner with unparalleled history and know-how in the carbon removal industry, showing time and again what’s possible,” says Esther Finidori, Chief Sustainability Officer of Schneider Electric. “This agreement represents an important step in diversifying our carbon removal portfolio with high-durability solutions and adds to our carbon removal capabilities as we prepare for the journey to 2050.”