Sustainability is at the forefront of Swarovski‘s latest venture. The Austrian luxury firm announced on Wednesday, March 30, that it has signed a five-year partnership agreement with Swiss carbon dioxide removal specialist, Climeworks. Swarovski will utilize the company’s air capture technology to eliminate its cumulative carbon dioxide emissions. This strategic move forms part of Swarovski’s climate action contributions aiming to “reduce, eliminate and offset” its C02 emissions, a series of implemented methodologies necessary to achieve the climate change targets outlined in the 2015 Paris Agreement. 

“In 2021, we are reinforcing our sustainability strategy, focusing on the key issue area of climate change mitigation. With the firm belief that scientific knowledge is indispensable to understand and create change, we also participate in the Science Based Targets initiative to reinforce our commitment,” stated Swarovski’s interim CEO Michele Molon on the company’s goal to reduce absolute Scope 1 and 2 emissions (direct and indirect emissions from owned operations) by 47% and Scope 3 emissions (indirect emissions from non-owned operations) down 28% by 2030.

The executive added that the agreement reached with the company founded by Christoph Gebald and Jan Wurzbacker in 2009 is another step in the right direction for Swarovski to “address one of the most pressing issues of our planet.” Through this partnership, Climeworks, which already collaborates with companies such as Microsoft and Shopify or music groups like Coldplay, will permanently eliminate carbon dioxide emitted into the air, either by returning it back to the earth or safely storing it. The financial details of the agreement have not been disclosed as of yet.