All Articles

Big Tech is Buying Up Carbon Credits

September 21, 2023
x min read

Big tech is buying carbon credits.

What’s happening:

  • Microsoft has announced a deal with Carbon Streaming (CBOE: NETZ) to purchase 10,000 carbon credits per year
  • Amazon has entered into an agreement with 1Point5 to purchase 250,000 carbon removal credits
  • Alphabet, Stripe, Meta and Shopify have also joined forces to purchase nearly $1 billion of carbon offsets through the Frontier Fund

Why it matters:

  • Seeing carbon credit purchases from some of the largest tech companies in the world is further evidence that carbon credits will play a big role in getting to net zero emissions
  • The pace of carbon credit deals is accelerating, with more large companies beginning to solidify long term agreements that make a meaningful difference in their overall emissions

Going deeper:

  • 1Point5 is a Direct Air Capture company with operations based in Texas and is owned by Occidental Petroleum (NYSE: OXY)
  • This is the first ever purchase from Amazon of carbon removal credit from a Direct Air Capture facility
  • Carbon Streaming will generate their carbon credits from a biochar project in Virgina, which involves producing biochar and burying it in soils to store carbon for centuries
  • Microsoft has been one of the most notable carbon credits buyers in the world, including a recent deal with Heirloom that will see them purchase $200M of carbon removal over a decade

Discover what’s next. The world’s biggest ideas, disruptive trends, most exciting early stage companies and groundbreaking entrepreneurs.

By clicking Subscribe you're confirming that you agree with our Privacy Policy.
Thanks for subscribing!
Keep an eye out for a welcome email shortly.
Oops! Something went wrong while submitting the form.