Tech Giants Commit $500 Million to Remove Carbon

Published on: 26 May 2022
by KnowESG

The tech giants—Alphabet, Microsoft, and Salesforce—have committed to pledging $500 million to assist CO2 removal initiatives and the introduction of a new programme aimed at facilitating the acquisition of more than 1 million metric tonnes of verified carbon dioxide removal offsets by 2025.

The three tech giants are members of the First Movers Coalition, a tech group dedicated to decarbonising industry and transportation.

The coalition added carbon dioxide removal (CDR) to its programmes during the World Economic Forum in Davos.

The World Economic Forum collaborated with the US Special Presidential Envoy for Climate Change, John Kerry, and more than 50 multinational companies. These businesses have committed to investing in cutting-edge green technologies.

Alphabet, Microsoft, and Salesforce, in particular, have vowed to spend $500 million on carbon removal by 2030. On the other hand, Boston Consulting Group has pledged to reduce 100,000 tonnes of carbon by 2030.

Meanwhile, AES, Mitsui O.S.K. Lines and Swiss Re have pledged to remove 50,000 tonnes of carbon (worth $25 million).

India, Japan, Sweden, Denmark, Italy, Norway, Singapore, and the United Kingdom have joined the group.

Source: Carbon Credits

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