Schneider Electric strikes major carbon removal deal with Climeworks

Schneider Electric has signed a landmark agreement with Swiss-based Climeworks to remove 31,000 tons of carbon dioxide by 2039. The deal is Schneider’s first major investment in high-durability removals and marks the largest portfolio contract Climeworks has secured to date.

The partnership spans Direct Air Capture and Storage, Bioenergy with Carbon Capture and Storage, and Enhanced Rock Weathering. All three methods lock away carbon for thousands of years, offering permanence that is increasingly demanded by investors, regulators, and standard setters.

For Schneider Electric, a global leader in energy management and automation, the agreement strengthens its pathway under the Science Based Targets initiative. The company has pledged to reduce Scope 1 and 2 emissions by 90 per cent by 2030 and to achieve net zero across its value chain by 2050. Residual emissions will be neutralised with removals.

Chief Sustainability Officer Esther Finidori said the deal diversifies Schneider’s portfolio with high-durability solutions and reinforces its readiness for a net-zero future. The move complements existing investments in nature-based solutions while signalling a deliberate expansion into engineered approaches.

Climeworks co-founder Christoph Gebald welcomed the agreement, describing Schneider Electric as “an institution” whose commitment will accelerate cost reductions and provide critical demand signals for scaling carbon removal infrastructure.

With net-zero standards tightening, corporate offtake agreements such as this are set to underpin the growth of carbon removal technologies. For business leaders and investors, the deal demonstrates how early action in securing high-quality removals can de-risk strategies and shape the economics of an emerging market.

Explore how Schneider Electric is pairing deep decarbonization with durable removals to stay net-zero aligned.