Microsoft backs nature-based carbon removal

Driving the news: The new deal, the financials of which were not publicly disclosed, would deliver over seven million tons of carbon removal credits to Microsoft, Chestnut CEO Ben Dell told Axios in an interview.

• This would put it just behind a deal Microsoft struck with Brazilian investment bank BTG Pactual's forestry arm for 8 million carbon offset credits, which ranked as the largest such purchase to that date.
• The new agreement would involve the restoration of 60,000 acres of land by planting more than 35 million native, biodiverse hardwood and softwood trees, which would then capture and store carbon as they grow and mature.

The deal amounts to Microsoft's second-largest offtake agreement in its carbon dioxide removal portfolio, according to Brian Marrs, ( article continues at Axios )