George Carlin once said the planet doesn't need saving; the planet is fine. It's the people who are fucked. He was talking about a different kind of delusion, but he might as well have been watching a Climeworks investor deck.

I've spent thirty years in the impact space. Thirty years of watching money that was supposed to change the world get dressed up in language that would make a marketing professor weep with joy. I've seen greenwashing dressed as strategy, incrementalism sold as transformation, and now, in what may be the purest expression of wishful thinking the financial sector has ever produced, I am watching the world's largest banks write checks to a machine in Switzerland and Iceland that is, by its own operational math, a net carbon emitter.

Let me say that again. A company whose entire business model is removing carbon from the atmosphere has been, in documented periods, adding more carbon to the sky through its corporate operations than its machines are taking out. And the response from the financial establishment? More agreements. More press releases provide "the illusion of choice dressed up as progress."

The Guest List at the World's Most Expensive Dinner Party

Let's give credit where it's due. The agreement roster is extraordinary in its ambition and its scope. These are not small actors.

JPMorgan Chase signed a nine-year, $20 million purchase agreement for 25,000 metric tons of carbon removal. Morgan Stanley committed to 40,000 tons stretching out to 2037, their first direct air capture deal, which was celebrated as a landmark. TD Bank signed a 10-year agreement announced in June 2026. UBS is locked in a 10-year removal deal. Swiss Re signed what was breathlessly promoted as the world's first long-term direct air capture purchase agreement. Boston Consulting Group went further than any of them, a 15-year strategic partnership for 80,000 metric tons, the largest corporate buyer commitment in Climeworks' history. NTT DATA Group came aboard in April 2026.

And the corporate world didn't stop at finance and consulting. Stripe signed up. Microsoft. Shopify. H&M Group. SAP is committed to 33,500 tons. Schneider Electric pledged 31,000 tons.

This is, on paper, an impressive coalition of institutional credibility. In practice, it is the most expensive proof of concept ever assembled for a technology that is currently operating at 0.3% of its claimed capacity.

These agreements reveal everything you need to know, not about the climate, but about how elite institutions manage their reputations.

What the Journalists in Iceland Found Out

Here is what the press conferences did not cover. Investigative reporters at Heimildin, the Icelandic news outlet that actually bothered to audit what was happening on the ground rather than in the boardrooms, dug into Climeworks' own carbon accounting and found something remarkable in its ugliness.

In 2023, Climeworks' global corporate operations, the flights to climate summits, the infrastructure, the expansion activity, and the administrative machinery of a company that had raised hundreds of millions of dollars produced approximately 1,700 metric tons of CO₂. Meanwhile, the lifetime atmospheric capture of Climeworks' Orca plant at that point sat at roughly 2,400 metric tons. Total. In its entire operational life.

The company's own internal corporate footprint was rapidly approaching, and in some accounting periods, surpassing its total atmospheric removal output. Heimildin didn't editorialize. They simply did the arithmetic that the corporate communications teams had conspicuously avoided. The machines weren't keeping up with the company's own travel schedule.

CleanTechnica then took the Heimildin data global. Their piece, "Climeworks' DAC & Fiscal Collapse & The Brutal Reality Of Pulling Carbon From The Sky",

What does it take to walk away from a global retail dynasty and redirect your wealth toward healing the planet? Stephen Brenninkmeijer did exactly that — and in this episode, he tells us how.In this episode of TBLI Radical Truth, host Robert Rubinstein sits down with Stephen Brenninkmeijer, private investor and founder of Willows Investments, to explore his remarkable journey from family business leader to pioneering impact investor.💡 What you'll learn:How a 30-year career in global retail (C&A across the USA, Japan, England, and Europe) shaped Stephen's investment philosophyWhy he pivoted to strategic impact investing in 2002 — and what triggered that shiftHow Willows Investments identifies and supports ventures with a genuine social missionStephen's perspective on climate change, education, and where impact capital is most needed todayAbout Stephen Brenninkmeijer:Stephen Brenninkmeijer is a private investor focused on climate change, impact investing, and education. For three decades, he held senior roles in C&A, one of the world's largest family-owned retail businesses. Since founding Willows Investments in 2008, he has backed promising ventures that put social mission at the centre of their model.

About TBLI Radical Truth Podcast:Every week, host Robert Rubinstein brings you honest, unfiltered conversations with the investors, entrepreneurs, and thought leaders who are doing the real work of repairing the global financial system — through impact, intention, and radical accountability.

🔔 Subscribe for weekly episodes#ImpactInvesting #ClimateInvesting #SocialEntrepreneur #WillowsInvestments #ESG #ImpactFinance #TBLI #SustainableInvesting #PhilanthropicCapital #PurposeDrivenBusiness #radicaltruth

Can a pension fund managing £30 billion in public money genuinely integrate ESG and impact investing — without sacrificing returns?Denise Le Gal, Chair of Brunel Pension Partnership, says yes. And she has the results to prove it.Brunel is one of eight national Local Government Pension Scheme (LGPS) pools in the UK, bringing together the investments of 10 like-minded funds. In this episode of TBLI Talk, Denise shares what responsible investing looks like at institutional scale — and why managing financial, environmental, social, and governance risk is no longer optional for pension funds.In this episode:• Why pension funds can no longer ignore ESG risk in their investment strategy• How Brunel pools £30 billion to drive responsible investing at scale• The real challenges of integrating impact into a public pension mandate• What other pension funds and institutional investors can learn from Brunel's approach• How ESG integration protects beneficiaries — and the planetAbout Denise Le Gal:Denise is Chair of Brunel Pension Partnership Limited, one of the UK's leading responsible investment institutions. A recognised thought leader in sustainable finance, she brings deep expertise in governance, fiduciary duty, and long-term value creation.About TBLI Radical Truth:TBLI Group is the world's leading ESG and impact investing network — educating, advising, and connecting investors for 25 years. TBLI Talk: Knowledge that Inspires.Website: https://tbligroup.comYoutube: https://youtu.be/fPQwM5f5nsE#PensionFund #ESGInvesting #ResponsibleInvesting #BrunelPensionPartnership #DeniseLegal #ImpactInvesting #LGPS #SustainableFinance #TBLI #TBLITalk #InstitutionalInvesting #ESG #Governance #SustainableInvesting #PensionFundESG