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Microsoft to buy 8 million carbon credits from BTG Pactual in largest-ever sale

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By illuminem briefings

· 1 min read

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

🗞️ Driving the news: Microsoft has agreed to purchase 8 million carbon offset credits from BTG Pactual's forestry arm, BTG Pactual Timberland Investment Group (TIG)
• This transaction marks the largest-ever sale of carbon dioxide removal credits

🔭 The context: The credits are generated from BTG Pactual TIG's forest restoration projects in Latin America
Carbon offsets help companies like Microsoft mitigate their greenhouse gas emissions by funding projects that reduce emissions elsewhere

🌍 Why it matters for the planet: Forest restoration projects play a crucial role in carbon sequestration, helping to combat climate change by capturing CO2 from the atmosphere
• This large-scale purchase underscores the importance and growing market for high-quality carbon credits

⏭️ What's next: Microsoft aims to meet its corporate climate goals through such investments, emphasizing the need for credible and measurable carbon reduction projects
• This move may encourage other companies to invest in similar initiatives

💬 One quote: BTG Pactual TIG highlighted that this deal represents the largest known carbon dioxide removal credit transaction to dat

📈 One stat: Each carbon credit represents the reduction of one tonne of carbon dioxide emissions

Click for more news covering the latest on carbon market

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