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Illuminem summarizes for you the essential news of the day. Read the full piece on ESG Today or enjoy below:
🗞️ Driving the news: Microsoft has entered into one of the largest biochar-based carbon removal deals to date
• This move aligns with the company's ambitious goal to become carbon negative by 2030 and to remove all the carbon it has emitted since its founding by 2050
🔭 The context: Biochar is a form of charcoal produced from plant matter and stored in the soil as a means of removing carbon dioxide from the atmosphere
• This approach is gaining attention as a viable method for carbon sequestration, contributing to global efforts to mitigate climate change
🌍 Why it matters for the planet: The deal represents a significant step in leveraging technology and natural processes to combat climate change
• By investing in biochar, Microsoft is not only working towards its own sustainability goals but also fostering the growth of environmentally beneficial practices in carbon management
⏭️ What's next: This agreement may encourage other corporations to invest in similar carbon removal technologies, potentially leading to a broader adoption of biochar and other carbon sequestration methods
• It could also stimulate further innovation in the field of carbon capture and storage
💬 One quote: “The project is more than just a carbon removal initiative; it’s a testament to our commitment to environmental sustainability and community empowerment. We’re proud to contribute to a solution that not only addresses global carbon challenges but also tangibly enhances the lives of local communities in Bolivia while contributing to the reduction in deforestation linked to soil degradation” (Diego Justiniano, CEO of Exomad Green)
📈 One stat: The agreement with Microsoft is set to deliver over 32,000 tonnes of carbon dioxide removal credits by June 2024, marking it as one of the largest biochar-based carbon removal (BCR) purchase agreements to date
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