Morgan Stanley to buy 40,000 tonnes of direct air capture removals
The bank recently created a new fund to support the removal of one gigatonne of emissions by 2050.
US bank Morgan Stanley has signed an agreement with Climeworks to purchase 40,000 tonnes of direct air capture carbon removals between now and 2037.
This is the bank’s first direct air capture (DAC) investment, and Climeworks’ second-largest deal to date. (BCG is the technology firm’s biggest client so far, with 80,000 tonnes purchased in several contracts.)
