Microsoft shows insatiable appetite for carbon removal

illuminem summarizes for you the essential news of the day. Read the full piece on Axios or enjoy below:

🗞️ Driving the news: Microsoft is rapidly expanding its carbon removal initiatives, partnering with startups like Lithos Carbon and Arbor to buy tens of thousands of carbon removal credits as it scales its environmental efforts

🔭 The context: Lithos Carbon uses volcanic basalt rock dust, a byproduct from quarries, to capture carbon while enhancing crop yields
• Microsoft, committed to being carbon negative by 2030, is the largest purchaser of carbon removal credits globally, increasing its investments fivefold in 2023

🌍 Why it matters for the planet: With carbon removal crucial to achieving global climate targets, Microsoft's heavy investments aim to scale emerging technologies, reduce costs, and set an example for other companies

⏭️ What's next: Microsoft aims to remove 5 million metric tonnes of carbon annually by 2030 and reach carbon neutrality by 2050, serving as a "living laboratory" for carbon removal practices and partnerships

💬 One quote: "Its purchases of carbon removal will continue to scale towards achievement of 2030 and 2050 commitments." — Microsoft spokesperson

📈 One stat: Microsoft plans to buy 11,400 metric tons of carbon removal credits from Lithos Carbon, building on its previous 500 tons

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