The consequences of climate change and its negative impacts on our environment is one of the most significant and pressing issues of our time.
With ocean levels rising, glaciers melting, deforestation, wildlife loss and biodiversity decline, along with a high increase of greenhouse gases, climate change presents one of humanity’s largest and multifaceted challenges. The shifts in temperatures and weather patterns all pose significant risks to people and their current lifestyles, and economic stability. Crucially, the vast biodiversity present on Earth will be under more pressing threats, not only forever changing itself, but also undermining several very important ecosystem services it offers us, like pollination, which are crucial for supporting and sustaining the ever increasing population on Earth.
The business community has a crucial role to play, and PwC Malta is conscious of our environmental impacts and carbon footprint. We also understand that while reducing our emissions is of paramount importance, the world needs carbon dioxide removal solutions, such as direct air capture and storage (DAC+S), to neutralise our unavoidable and historic emissions.
In this respect, PwC Malta has partnered with Climeworks, empowering people and companies to fight global warming by offering carbon dioxide removal as a service via direct air capture (DAC) technology. At Orca, Climeworks’ DAC facility in Iceland, the CO2 is permanently removed from the air by capturing and geologically storing it for thousands of years with Climeworks’ storage partner Carbfix. Climeworks’ DAC facilities run exclusively on clean energy, and their modular CO2 collectors can be stacked to build machines of any capacity.
Climeworks’ vision is to inspire one billion people to remove CO₂ from the air. Climeworks’ revolutionary technology greatly aligns with PwC’s New Equation strategy which sees people and technology working hand in hand, thus resulting in a human-led and tech-powered approach.
PwC’s net zero commitment aligns with our strategic goal to build trust in society and deliver sustained outcomes. By coming together and supporting players in the net zero ecosystem, we hope this partnership will help scale up the technologies and solutions we so desperately need.
