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- 6,000+ tons of CO₂ removed: TikTok and Two Drifters Distillery partner with Climeworks to capture over 6,000 tons of CO₂.
- Strategic financial move: Carbon removal agreements act as a hedge against future price volatility, boosting profitability.
- Sustainability integrated into business models: Two Drifters factors carbon removal costs into its COGS, aligning profit with emission reduction.
TikTok’s Multi-Year Carbon Commitment
TikTok has entered a multi-year partnership with Climeworks to remove 5,100 tons of CO₂ from the atmosphere by 2030. The plan combines Direct Air Capture, Biochar, and Reforestation strategies to align with best practices in carbon removal.
“We carefully evaluated multiple providers to build a high-quality carbon removal portfolio. Climeworks provided a solution that meets our highest standards and aligns perfectly with our sustainability strategy as we work toward carbon neutrality by 2030,” said Ian Gill, Global Head of Sustainability at TikTok.
Financial Strategy Behind Carbon Removal
Early investments in carbon removal aren’t just environmentally driven—they’re financially strategic. As carbon pricing mechanisms mature, companies like TikTok can lock in lower costs and avoid potential price spikes.
Two Drifters: Embedding Carbon Removal into Costs
Two Drifters Distillery, a British rum producer, has deepened its collaboration with Climeworks, committing to remove 1,067 tons of CO₂ by 2032. Since 2020, the distillery has pioneered an approach where carbon removal costs are embedded directly into their Cost of Goods Sold (COGS).
“The more carbon we avoid through sustainable practices, the greater our margins become,” said Dr. Russ Wakeham, Co-Founder of Two Drifters. This approach aligns profit margins with emission reductions, showcasing a model where sustainability and profitability reinforce each other.
Expanding Carbon Removal Access
Climeworks’ self-service carbon removal platform, launched in 2019, has attracted over 21,000 individual customers, including ten23 health and 118Group. The company continues to scale, offering tailored carbon removal solutions that help businesses meet their net-zero targets while strengthening their long-term economic resilience.
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