Swarovski has signed a five-year agreement with Climeworks as part of the luxury jewellery firm’s efforts to tackle carbon emissions.
It is backing the company’s commercial direct air capture (DAC) project, claimed to be the world’ first project of its kind, in Iceland.
Climeworks’ Orca DAC facility, which removes carbon dioxide from the air and stores it underground, consists of eight collector containers with an annual capture capacity of 500 tons each.
Swarovski is the latest company to support the project by funding the removal of carbon to support its net zero goals.
It has committed to science-based targets to reduce absolute Scope 1 and 2 emissions from its operations by 47% and Scope 3 emissions from non-owned operations by 28% by 2030.
Michele Molon Swarovski CEO ad interim said: “In 2021 we strengthened our sustainability strategy, focusing on the key area of climate mitigation. With the firm belief that scientific knowledge is indispensable to understanding and creating change, we also aligned with the Science Based Targets initiative to further our commitment.
“By signing this carbon removal agreement with Climeworks, we are marking our continued journey to confront one of our planet‘s most pressing issues.”
Swarovski is also investing in more efficient manufacturing operations, further reducing energy consumption in all its new stores as well as sourcing more sustainable materials for its products, packaging and architecture.