Weekly Recap: A Synopsis of Recent Events
Major tech companies and startups are making significant strides in combating climate change by investing in carbon removal technologies. Here's a roundup of some key developments:
Microsoft's Carbon Removal Initiatives
Microsoft is actively engaging in carbon dioxide removal initiatives, spanning forestry, biochar-based solutions, soil carbon sequestration, direct air capture, and bioenergy with carbon capture and storage (BECCS) technologies [1][5]. Notable partnerships include Vaulted Deep, Exomad Green, Fidelis' AtmosClear, and Carbon Direct. The deal with Vaulted Deep aims to remove up to 4.9 million tonnes of CO₂ over 12 years through waste management infrastructure [2][5]. Microsoft aspires to become carbon negative by 2030 and remove all historical emissions by 2050 [1].
Google and Meta's Involvement
Google and Meta are part of Frontier, which has invested $41 million in Arbor, a BECCS startup. This deal signifies the growing confidence in engineered carbon removal solutions [3]. The deal with Arbor involves purchasing 116,000 tons of durable CO₂ removal credits between 2028 and 2030 from a plant near Lake Charles, Louisiana [3].
Trends and Future Directions
There's a noticeable trend towards scaling carbon removal using existing infrastructure rather than just emerging technologies. Companies like Vaulted Deep are leveraging waste management to achieve large-scale carbon removal [2]. The investment in carbon removal is seen as a strategic step for tech companies to meet their sustainability goals while supporting clean power needs [3].
Overall, major tech companies are stepping up their efforts in carbon removal by investing in diverse technologies and forming significant partnerships to meet their ambitious climate goals.
Additional Developments
- Iberdrola signs deals for more than $7.5 billion in green, sustainability-linked financing [6].
- Apple and MP Materials agree to build a rare earths recycling facility under a new $500 million supply deal [7].
- DHL signs a deal with Neste for over 9 million liters of sustainable aviation fuel for Singapore flights [8].
- Datamaran launches a new ESG strategy management platform [9].
- GM and Redwood Materials plan to deploy used EV batteries to meet data centers' growing energy demand [10].
- HSBC exits the Net Zero Banking Alliance [11].
- The EU Ombudsman questions the Commission's fast-track approach to the Omnibus proposal, which aims to scale back sustainability requirements [12].
- The UK drops plans for a sustainable finance taxonomy [13].
As these developments demonstrate, the tech industry is actively working towards a more sustainable future, with a focus on carbon removal, renewable energy, and recycling.
- In line with Microsoft's carbon removal initiatives, the company is delving into forests, biochar solutions, soil sequestration, direct air capture, and BECCS technologies, partnering with Vaulted Deep, Exomad Green, Fidelis' AtmosClear, and Carbon Direct, aiming to eliminate up to 4.9 million tonnes of CO₂ over 12 years through waste management infrastructure.
- Microsoft's goal is to become carbon negative by 2030 and remove all historical emissions by 2050, demonstrating its commitment to the environment and climate-change mitigation.
- Google and Meta, also part of the fight against climate change, have invested $41 million in Arbor, a BECCS startup, as a clear sign of the growing trust in engineered carbon removal solutions.
- The partnership with Arbor includes the purchase of 116,000 tons of durable CO₂ removal credits between 2028 and 2030 from a plant near Lake Charles, Louisiana.
- Noteworthy trends in scalable carbon removal involve leveraging existing infrastructure, as demonstrated by Vaulted Deep, which is using waste management to achieve large-scale carbon removal.
- Companies are investing in carbon removal as a strategic move to meet their sustainability goals, align their businesses with clean power needs, and contribute to the general news surrounding the decarbonization of various industries.
- Sustainable finance is a crucial aspect of environmental-science education, self-development, and lifestyle choices, as businesses like Iberdrola, Apple, DHL, Datamaran, and GM are highlighting in their efforts to finance green projects, recycle rare earths, secure sustainable fuel, develop ESG strategy management platforms, and deploy used EV batteries, respectively.
