Partners Group / Key word(s): ESG
Partners Group signs carbon dioxide removal agreement with Climeworks, a leading provider of high-quality carbon dioxide removal via direct air capture (DAC)
19.04.2023 / 08:01 CET/CEST
Baar-Zug, Switzerland; 19 April 2023
Climeworks will remove more than 7,000 metric tons of carbon dioxide from the atmosphere on Partners Group’s behalf The agreement represents Partners Group’s first use of a technological solution to help meet its net zero commitments Partners Group co-led a CHF 600 million fundraising round in Climeworks in 2022
Partners Group, a leading global private markets firm, has signed a 13-year agreement with Climeworks (or “the Company”), a leading Swiss provider of high-quality carbon dioxide removal via direct air capture (DAC). Under the agreement, Climeworks will remove more than 7,000 metric tons of carbon dioxide (CO2) from the atmosphere on Partners Group’s behalf, which will be permanently stored underground.
The DAC agreement with Climeworks is a significant step for Partners Group, which announced in 2022 that it would develop a decarbonization program to achieve net zero corporate greenhouse gas (“GHG”) emissions by 2030. While a priority of the program will be to reduce the firm’s overall emissions, removing residual emissions via capture and storage of atmospheric CO2 will also play a role in achieving the net zero goal. The agreement with Climeworks is Partners Group’s first adoption of a technology-based solution to address GHG emissions and sits alongside the firm’s growing portfolio of nature-based solutions, such as reforestation, which also contribute to enhancing biodiversity.
Partners Group co-led a CHF 600 million fundraising round in Climeworks in 2022 on behalf of its clients. As it does with all portfolio companies, the firm is currently working with the Climeworks management team and other investors with a focus on addressing the massive scale up the industry requires.
David Layton, Partner and Chief Executive Officer, Partners Group, comments: “The agreement with Climeworks reflects Partners Group’s focus on sustainability and its commitment to achieving positive stakeholder impact over the long term. Our aim is to be a sustainability leader in private