Microsoft Agrees To Nature-Based Carbon Removal Deal
Microsoft signs 15-year agreement with Chestnut Carbon to acquire potentially 3M tons of carbon removal credits.
Big Idea:
Microsoft has signed a 15-year agreement with Chestnut Carbon, an afforestation developer, to acquire carbon removal credits, with Chestnut providing potentially over 3 million tons of credits from its U.S.-based project.
Why It Matters:
This agreement is part of Microsoft's 2030 carbon negative goal and to remove all historical emissions by 2050, expanding the company's carbon removal portfolio that includes various technologies and approaches. This move reflects a growing trend among big tech like Alphabet and Meta in championing nature-based solutions.
Key Details:
- The project, deemed the largest U.S. afforestation initiative ever registered, aims to remove up to 2.7 million tons of carbon, starting with 362,000 tons in its first phase.
- Chestnut Carbon's approach combines reforestation, afforestation, and improved forest management, restoring marginal lands to plant native species and develop biodiverse ecosystems using proprietary technology and data sets.
- The Chestnut Carbon's project will expand to 500,000 acres, targeting 100 million tons of carbon removal by 2030.
- Following this deal, Microsoft signs another large-scale nature-based credit agreement with Brazilian reforestation startup Mombak, supplying up to 1.5 million credits from Amazon reforestation projects.
- Microsoft's carbon removal portfolio features technologies like direct air capture, ocean-based removal, and biochar methods.
“Microsoft’s 15-year purchase agreement with Chestnut Carbon for afforestation-based carbon removal credits is a positive step towards Microsoft’s carbon negative goals. We are excited to collaborate with Chestnut and its Sustainable Restoration Project for high-quality, nature-based solutions located in the United States,” said Brian Marrs, Senior Director of Energy & Carbon Removal at Microsoft.
What's Next:
The success of this project may boost future investments in nature-based carbon removal solutions.
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