Swarovski signs five-year CO2 removal deal with Climeworks

International jewellery company Swarovski is accelerating its plan to reduce, offset and remove carbon dioxide (CO2) emissions from its industrial processes following the signing of a five-year agreement with carbon capture specialist Climeworks.

Carbon capture is expected to play a key role in the reduction of harmful CO2 emissions to help meet 1.5C global warming targets as set out by the Paris Agreement.

Part of its greenhouse gas plan, Swarovski’s deal with Climeworks aligns with its 2021 initiative to reduce absolute scope 1 and 2 emissions by 47% and scope 3 emissions by 28% by 2030, committed to through the Science Based Targets (SBT) initiative.

Having committed to strengthening its sustainability strategy, Michele Molon, CEO ad interim, Swarovski, said, “With the firm belief that scientific knowledge is indispensable to understanding and creating change, we also aligned with the SBT initiative to further our commitment.”

“By signing this carbon removal agreement with Climeworks, we are marking our continued journey to confront of our planet’s most pressing issues.”

In September 2021, Climeworks launched Orca, the world’s largest direct air capture (DAC) and storage plant.

Capable of capturing 4,000 tonnes of CO2 per year, the plant runs on fully renewable energy and utilises modular and compact stackable container-size collector units to minimise the project’s carbon footprint.

In addition to harnessing Climeworks’ expertise in carbon removal, Swarovski also aims to reduce its energy consumption in all its new stores and lower its carbon footprint through the use of more sustainable materials for production, packaging and architecture.