Well, this is it. That email. 'Didn't you get any other emails, boss?' A couple, Voice. Only a couple. I think everyone is on holiday. 'Except you.' Yeah, except me.
Dear Michael,
I hope you are well.
Well ... what can I say? I'd rather be in Cornwall. I'd rather be staring at the sea. Do you know what I mean, Dorothea?
Never mind.
UBS has today signed a 10-year agreement with Climeworks to remove its carbon dioxide from the atmosphere.
And will that do any good?
Climeworks is excited to enter this long-term collaboration with UBS, the latest and largest financial services company to commit to Climeworks' carbon removal solution.
Excited.
The agreement with UBS points to an increasing consensus in the financial services industry that supporting permanent carbon removal is an essential part of the industry's net zero transition.
For Climeworks' continued capacity scale-up, the guaranteed demand materialized by an increasing number of long-term agreements is key to catalyze financing of infrastructure and accelerate growth.
Okay, okay. There's a lot of this. I think we'll go to the voices ...
"We are delighted to enter this long-term agreement with UBS. In the past months, the number of multi-year carbon removal agreements has increased rapidly. Such long-term commitments are central to our growth planning and enable us to scale up," says Christoph Gebald, co-founder and co-CEO of Climeworks.
Delighted.
"Switzerland has a long tradition of promoting innovation and we are delighted to be supporting these pioneering solutions from two Swiss companies, 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," says Sabine Keller-Busse, President UBS Switzerland.
Er ... delighted, yeah.
Suni Harford, UBS Group Executive Board lead for Sustainability and Impact and President Asset Management, says: "Innovative technologies play an increasingly important role in the transition to a low-carbon economy. By collaborating with neustark and Climeworks, UBS wants both to further reduce our own carbon footprint and, crucially, to support the development of scalable solutions that the world needs to achieve net-zero emissions by 2050."
Oh ... okay.
'Is Suni excited or delighted, boss?'
We just don't know.
'Weird!'
Yeah.
Maybe Sabine was speaking for Suni, too.
Well, whatever.
Anyway ... I wish everyone the best with it, obviously.
ENDS
Oh, about Climeworks -
Climeworks empowers people and companies to fight climate change by offering carbon dioxide removal as a service via direct air capture (DAC) technology. The CO2 is permanently removed from the air by capturing and geologically storing it for thousands of years - or it is upcycled into products. Climeworks' DAC facilities run exclusively on clean energy, and their modular CO2 collectors can be stacked to build machines of any capacity.
Founded by engineers Christoph Gebald and Jan Wurzbacher, Climeworks strives to inspire 1 billion people to act now and remove carbon dioxide from the air.
ENDS
'What about UBS, boss?!'
Christ!
UBS convenes the global ecosystem for investing, where people and ideas are connected and opportunities brought to life, and provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as to private clients in Switzerland. UBS offers investment solutions, products and impactful thought leadership, is the leading global wealth manager, provides large-scale and diversified asset management, focused investment banking capabilities, and personal and corporate banking services in Switzerland. The firm focuses on businesses that have a strong competitive position in their target markets, are capital efficient and have an attractive long-term structural growth or profitability outlook.
Thought leadership.
UBS is present in all major financial -
Yeah, yeah. We know all about UBS, don't we?
ENDS
ENDS
ENDS
