Commercial, Energy Efficiency, GHG Emissions - December 16, 2024
Boston Consulting Group Purchases Carbon Removal
Boston Consulting Group (BCG) announced the purchase of 50,250 tons of certified carbon dioxide removals (CDRs) as part of the company’s goal to neutralize 100% of its emissions through high-quality carbon removal credits by 2030.
BCG signed the agreement with ClimeFi, a portfolio manager for permanent CDR assets. This transaction is the second largest to date for BCG, bringing the firm’s total durable CDR purchases to nearly 200,000 tons.
With a targeted delivery within the next two years, this deal demonstrates BCG’s commitment to take action to mitigate climate change in the near term.
By collaborating with ClimeFi, BCG has accessed a portfolio of high-quality durable carbon removal solutions and ongoing tracking of project performance over time. The portfolio’s diverse range of methodologies reflects BCG’s dedication to supporting an array of technological innovations in the carbon removal space.
In addition to increasing the share of biochar in its portfolio through new projects by Exomad Green and Euthenia Energy, BCG continues to diversify into new CDR technologies. The portfolio includes Lithos Carbon, which is deploying enhanced rock weathering to permanently sequester CO2, while fostering crop yields; Andes, which employs microbial carbon mineralization on agricultural fields to remove CO2 from the atmosphere; O.C.O: Technologies, which focuses on concrete mineralization to lock CO2 into building materials; and Graphyte, which specializes in subsurface biomass storage.
Through this diverse set of technologies, BCG is helping to scale solutions across multiple approaches to carbon removal. This helps ensure a balanced and robust portfolio of technologies that complement one another and provide a diversification of project risks.
"BCG is committed to helping innovators in this space, and we are glad to be able to partner with ClimeFi," said David Webb, BCG’s Chief Sustainability Officer, in a statement. "By continuing to expand the CDR technologies we support, we are not only securing high-quality durable removals to neutralize our emissions, but helping to unlock the potential of these technologies to contribute to global climate targets.”
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