Microsoft’s $200M Carbon Removal Deal

Microsoft has inked one of the largest carbon dioxide removal (CDR) deals to date which involves 315,000 metric tons of carbon removal estimated to be worth $200 million.
Last year, three tech giants which included Microsoft, Alphabet, and Salesforce, together committed $500 million to a CDR program.
Other large companies are also pouring millions of dollars into advanced CDR credit purchase deals.
For example, JP Morgan announced earlier this year its intent to buy carbon removal credits that are worth the same – $200M. Apple also invested the same amount on CDR credits as an expansion of its Restore Fund.
Microsoft, by far, is the largest buyer of carbon removal credits.

Microsoft made its first long-term purchase last year to remove 10,000 tons of CO2.
Earlier this year, Microsoft also agreed to buy carbon removal credits.

In the short-term, the oil major plans to reduce greenhouse gas or carbon emissions by 30% by 2030. The company managed to cut operational emissions by 39% from 2015 to 2022 and a 67% drop in methane emissions for the same period.
For its detailed climate commitments, here are Petrobra’s specific goals.

Petrobras 2050 Net Zero Targets

Petrobras was also able to lower emissions intensity both for its exploration and production (50%) and refining (12%) activities.
Originally, Petrobras unveiled intent to invest up to $120 million in carbon credits as one solution to decarbonize operations. The company will prioritize buying high-quality, nature-based carbon credits. It plans to purchase at least $120M in carbon credits by 2027.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top