Swarovski Inks Arrangement With Climeworks as Part of its Continued Commitment to Sustainability

Wattens, Austria headquartered crystal glass, jewellery and accessories company Swarovski is advancing its sustainability strategy with a new five-year deal with Zurich headquartered Climeworks, a pioneer in carbon dioxide removal using direct air capture technology, to decrease, eliminate, and offset its CO2 emissions.

Net-zero emissions

To keep global warming to 1.5°C, the world must achieve net-zero emissions by mid-century and then net-negative emissions. To do this, global CO2 emissions must be dramatically decreased while also aggressively removing any residual and past emissions from the atmosphere.

Long term climate policy 

Swarovski recognises the significance of this and signs a five-year arrangement with Climeworks. The deal represents Swarovski's first step toward high-quality carbon removal and is part of the company's comprehensive greenhouse gas strategy to reduce, offset, and remove CO2 emissions. Swarovski want to emphasise with this that a climate policy that does not include carbon removal effectively implies agreeing to reduce pollution today without addressing the pollution that has already accumulated. 

Science Based Targets initiative

Swarovski joined the Science Based Targets initiative in 2021, committing to a 47 percent reduction in absolute scope 1 and 2 emissions (direct and indirect emissions from owned operations) and a 28 percent reduction in absolute scope 3 emissions (indirect emissions from non-owned operations) by 2030. 

CEO speaks

Michele Molon, interim CEO of Swarovski, elaborates further:

"In 2021, we enhanced our sustainability plan, concentrating on the critical subject of climate mitigation. We have linked with the Science Based Targets project to demonstrate our commitment. We believe that scientific knowledge is vital for understanding and effecting change. By concluding this carbon removal deal with Climeworks, we continue our path toward resolving one of our planet's most serious problems."

Decreasing global carbon footprint

Swarovski is significantly reducing its global carbon footprint by investing in more efficient manufacturing operations, further reducing energy consumption in all new stores, sourcing more sustainable materials for products, packaging, and architecture, and undertaking large-scale initiatives that will have a positive impact on goods transportation and other value chain steps.

Innovation is the Mantra

Innovation is critical to victory in the continuing climate war. Swarovski intends to set an example with this new collaboration with Climeworks by motivating people to embark on their own carbon removal journeys and contribute toward a climate-positive future.

Key points:

• Swarovski inks a five-year carbon dioxide removal deal with Climeworks as part of its greenhouse gas mitigation strategy.

• Swarovski joined the Science Based Targets project in 2021, committing to a 47 percent reduction in absolute scope 1 and 2 emissions and a 28 percent reduction in absolute scope 3 emissions by 2030.

• Additionally, Swarovski wishes to begin carbon removal, recognising the critical nature of eliminating residual and past CO2 emissions from the atmosphere in addition to emissions reductions.

• Swarovski is demonstrating via this agreement that high-quality carbon removal must be a component of any climate plan and intends to encourage other businesses to go on their own carbon removal path.

About Climeworks

Zurich headquartered Climeworks was founded by Jan and Christophin 2009 and is now the leader in direct air capture (DAC) technology. Direct air capture and storage is one of many carbon dioxide removal technologies (aka negative emissions technologies or NETs) but compared to other solutions, Climeworks’ DAC+S provides a permanent, efficient, measurable and safe option. 

Source: Climeworks.com