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Microsoft’s Carbon Removal Credits Acquisition

by Administrator Forexezy
February 27, 2024
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Microsoft has recently signed a deal to purchase 10,000 carbon removal credits from Bio-Logical Carbon, a biochar project developer based in Kenya. These credits, equivalent to one metric ton of carbon dioxide each, are scheduled to be delivered through 2025 as announced by Bio-Logical.

Positive Impact on the Environment and Community

“We are thrilled to unveil the inaugural biochar carbon removal transaction between Microsoft and Africa,” expressed Phil Hunter, Co-Founder of Bio-Logical. “This deal has the potential to significantly increase our environmental and social contributions within the region.”

Biochar: A Sustainable Solution

Biochar, a substance created through the controlled combustion of organic materials in a low-oxygen setting, effectively sequesters carbon that would otherwise be released into the atmosphere during decomposition. Bio-Logical is committed to establishing a circular economy by collecting agricultural waste, producing biochar, blending it with fertilizer, and re-introducing it to local farmers. The enriched fertilizer aids in the restoration of exhausted soil.

Expansion Plans and Environmental Goals

With intentions to enhance their operations and process over 30,000 metric tons of agricultural waste per year, Bio-Logical aims to store 1 million metric tons of CO2 annually by 2030.

Emission Reduction Pricing Framework

The carbon removal credits will be facilitated by puro.earth, with Bio-Logical citing a price range of €90.00/mt to €500/mt ($97.61/mt to $542.27/mt) based on other biochar developers. In January, puro.earth’s Carbon Dioxide Removal Credit Biochar Price Index stood at $149.46/mt.

Discovering innovative solutions such as this collaboration between Microsoft and Bio-Logical Carbon showcases a sustainable approach towards environmental conservation and carbon reduction efforts.

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Biochar: A Game-Changing Solution for Carbon Removal

Microsoft’s Senior Director of Energy and Carbon Removal, Brian Marrs, expressed excitement about the potential impact of biochar as a durable carbon removal solution. Marrs highlighted the benefits that biochar could bring to climate, agriculture, and rural livelihoods, emphasizing its scalability in both mature and emerging markets.

Valuable Biochar Credits

Compared to other nature-based carbon removal credits, biochar credits hold significant value. OPIS reported an average price assessment of $18.768/mt for Afforestation, Reforestation, and Revegetation V24 credits, while Blue Carbon V24 credits were valued at $33.51/mt.

Microsoft’s Commitment to Carbon Negativity

With a goal to achieve carbon negativity by 2030, Microsoft is making strides in building a robust carbon removal portfolio. Through partnerships with organizations like Bio-Logical, Grassroots Carbon, Catona, and Neustark, Microsoft is diversifying its carbon removal initiatives.

A Closer Look at Microsoft’s Carbon Removal Portfolio

In the fiscal year 2022, Microsoft purchased 1.5 million credits as part of its carbon removal portfolio. The majority of these credits were sourced from forestry projects, with a smaller portion coming from sustainable agriculture initiatives. Additionally, biochar, blue carbon, bio-oil, and CO2 utilization credits were included in the portfolio mix.

Transparency and Collaboration

Microsoft’s commitment to transparency is evident through its publication of the removal credit procurement strategy on its website. Developers are encouraged to submit proposals, fostering a collaborative approach to carbon removal solutions.

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