The Deal...
The latest deal between Zurich-based Climeworks AG and Morgan Stanley related to corporate social responsibility activity, aiming to permanently remove 40,000 tons of carbon dioxide from the atmosphere is an ambitious step towards environmental sustainability by using funds for climate change mitigation. It shows a commitment to framing credible strategies and meeting climate sustainability goals to control the catastrophic outcome that our planet may have to face in generations to come.
What Climeworks gains from it?
The agreement towards environmental stability will facilitate Climeworks' scaling up its Direct Air Capture technology in the United States, which is crucial because it is a strong supporter and the largest technology provider to Project Cypress, which aims to capture and store CO2 from the air. Morgan Stanley, in this case, is playing a very important role in fulfilling its dedication and commitment to supporting climate technology.
Blend of business and climate control
JP Morgan is also backing this project to boost its impact and help the Swiss company expand in the US. Apart from promoting environmental sustainability, this is also a great business move, which will help these companies gain a better position in terms of future regulatory changes. It is also to be noted that this step towards corporate social responsibility activity will instigate companies to stop purchasing carbon credits and concentrate on reducing and controlling carbon emissions from their end, ultimately contributing towards environmental stability.
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