“Permanently removing carbon dioxide from the atmosphere at scale is vital to achieving net-zero by 2050 and meeting the Paris agreement. We are proud to be an anchor buyer in the NextGen Facility and support pioneering carbon removal technologies that are removing emissions now. This key milestone announced today is another important step to unlock the potential of breakthrough climate technologies," says David Webb, Chief Sustainability Officer, at Boston Consulting Group.
“The launch of NextGen with three promising, innovative projects is an important milestone - for us as a founding buyer as well. We are convinced that Carbon Dioxide Removal (CDR) is one of the solutions crucial to achieving our climate goals. We can only make progress towards our goal of net-zero with scalable solutions, concerted action and investments in the right projects can. NextGen offers the right model to do so.", says H.S.H. Prince Max von und zu Liechtenstein, Chairman LGT.
“We are delighted to be making solid progress on our climate journey by purchasing Carbon Dioxide Removals (CDRs) and supporting pioneering carbon removal technologies. To achieve our net-zero emissions by 2050, reducing our emissions in accordance with the science-based abatement curve is a must and our priority; however, it is no longer enough. We will support climate actions beyond our value chain by purchasing CDRs and add to our chances of keeping 1.5 ℃ within our reach. In this way, we will contribute to sustainable growth for people, society, and the planet, for all life in the next generation," says Takeshi Hashimoto, President & CEO of Mitsui O.S.K. Lines, Ltd.
“Development of CDRs is essential for net-zero emissions by 2050, and we are proud to be part of the great achievement announced by NextGen. Our team contributes to NextGen's further development by leveraging our insight and network in the global CDR businesses. Mitsubishi Corporation will further strengthen our commitment to the sustainable future and continue the contribution for environmental protection through innovation and collaboration," says Masaru Saito, EVP, Next-Generation Energy Business, Mitsubishi Corporation.
“NextGen's ambition to scale the market has taken a major step forward following these initial CDR purchases and puts us on a clear pathway to realize our target of 1M durably stored tonnes of CO2 by 2025. Not only will these advance purchases establish a quality standard by ensuring independent certification of technological carbon removals, these commitments from our buyers will unlock financing for many emerging CDR projects and technologies that now have a clear route-to-market for removing historical emissions," says Philip Moss, Chairman of NextGen and Global Director, Tech Carbon Removals, at South Pole.
“Today's announcement is another exciting step in making carbon dioxide removal a scalable reality. Offering certainty as an anchor buyer is one of the ways UBS is supporting the development of innovative climate technologies. We are committed to working in partnership on the solutions we need to achieve net-zero emissions by 2050," says Michael Baldinger, UBS Chief Sustainability Officer.