Commercial, GHG Emissions  -  September 1, 2022

UBS Collaborates to Remove Carbon 

UBS will collaborate with two Swiss companies Climeworks and neustark to remove 39,500 tonnes of CO₂ from the atmosphere over the next 13 years. In working on carbon removal projects with these companies, UBS will support the scale-up of these technologies,

The Swiss bank is committed to achieving net-zero energy emissions from its operations by 2025.

Neustark, the ETH Zurich university spin-off and startup, specializes in the petrification of atmospheric CO₂ in recycled concrete. Powered solely by renewable energy, Climeworks’ direct air capture and storage facility “Orca” in Iceland captures CO₂ directly from the atmosphere, which is stored underground in basalt rock for thousands of years via the Carbfix method. The volume of the agreements represents a substantial carbon removal contribution in Europe and worldwide.

“Switzerland has a long tradition of promoting innovation and we are delighted to be supporting these pioneering solutions from two Swiss companies,” said Sabine Keller-Busse, President UBS Switzerland in a statement. “Sustainability continues to be at the top of our clients' agendas and, in order to be a credible partner, it is important that we demonstrate our continued commitment when it comes to the sustainability of our own business activities."

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