Microsoft's Path to Carbon Negative – a Progress Report on our Climate ‘Moonshot’
Microsoft emerges as a major customer for captured carbon-
The software giant paid an average of $20 per ton for up 1.3 million metric tons of carbon removal last year, making it one of the market’s largest purchasers. The carbon credits will help the company make progress on its ambitious goal to be carbon negative by 2035 and to eliminate by 2050 all the carbon it has emitted since it was founded in 1975.
"This includes a commitment to combine carbon reduction with carbon removal, so the second doesn’t become an excuse to avoid the first. That’s what we’ve worked to do by reducing our own emissions and embarking on carbon removal. It’s imperative that we move away from paying for carbon avoidance and focus on paying for carbon removal."
Increasingly, investors and shareholders are asking for or even demanding this type of change. As BlackRock CEO Larry Fink put it this past week, “We know that climate risk is investment risk. But we also believe the climate transition presents a historic investment opportunity.”
Source: https://blogs.microsoft.com/blog/2021/01/28/one-year-later-the-path-to-carbon-negative-a-progress-report-on-our-climate-moonshot/ & https://impactalpha.com/microsoft-emerges-as-a-major-customer-for-captured-carbon/