Swarovski signs five-year agreement with Climeworks

Swarovski is building on its sustainability strategy with a new five-year agreement with Climeworks, a leader in carbon dioxide removal via direct air capture technology to reduce, remove and offset its CO2 emissions.

In a statement, Swarovski said that the deal with Climeworks to remove accumulated CO2 emissions forms part of its cohesive greenhouse gas plan to reach its climate targets. In 2021, Swarovski joined the Science Based Targets initiative and committed to reducing absolute scope 1 and 2 emissions (direct and indirect emissions from owned operations) by 47 percent and scope 3 emissions (indirect emissions from non-owned operations) by 28 percent by 2030.

“A climate strategy without carbon removal essentially means committing to pollute less today without clearing up the pollution accumulated so far,” explains Swarovski. “Reduction, removal, and offsetting are all necessary methodologies to reach the climate targets set out in the 2015 Paris Agreement.”

Swarovski to “drastically” reduce, remove and offset CO2 emissions with Climeworks

As part of its plan to “drastically reduce” its global carbon footprint, Swarovski added that it is investing in more efficient manufacturing operations to reduce energy consumption in all new stores and to source more sustainable materials for products, packaging, and architecture. The crystal and jewellery company is also undertaking large-scale initiatives that will positively impact the transport of goods and other steps along the value chain.

Swarovski chief executive and interim chair Michele Molon 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 on their CO2 removal technology, we are marking our continued journey to confront one of our planet's most pressing issues.”