Big Picture

Mammoth

Hellisheidi, Iceland

Climeworks, a leader in carbon dioxide removal through direct air capture, has broken ground on its appropriatly titled Mammoth recently storage facility in Iceland. Mammoth meets long-term market demand for permanent CO2 removal from the atmosphere.

Following earlier purchases from Stripe, Klarna, Square Inc., LGT and Verdane, UBS is the latest and largest financial services company to commit to Climeworks’ carbon removal solution in a 10-year deal.