The UK’s largest pension insurance specialist, Rothesay, has signed a ten-year carbon dioxide removal agreement with Climeworks making the insurer’s own operations over the next ten years net-zero by 2030.

Rothesay is the first UK insurance company choosing Climeworks’ carbon dioxide removal service, a decision based on the fact that removal can be accurately measured and is characterised by the strongest standards of additionality and permanence while avoiding social and environmental harms.

Powered solely by renewable energy, Climeworks’ direct air capture plants capture CO2 from the air. In Iceland, Climeworks’ storage partner Carbfix mixes the CO2 with water and pumps it deep underground where it reacts with the basaltic rock formations and mineralises. In fact, the CO2 literally turns into stone and is thus permanently removed. In September 2021, Climeworks launched its new large-scale direct air capture and storage plant Orca in Iceland, bringing large-scale direct air capture technology to reality. The agreement is the fourth ten-year agreement for Climeworks within six months.

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