Microsoft creates a 'Climate Innovation Fund,' which will invest $1 billion over the next four years to speed up the development of carbon removal technology
- Microsoft Corp on Thursday set a new ambition among Fortune 500 companies in addressing climate change, pledging to remove as much carbon as it has emitted in its 45-year history.
The plan includes the creation of a “Climate Innovation Fund,” which will invest $1 billion over the next four years to speed up the development of carbon removal technology. He said Microsoft would widen the reach of a fee it has charged its business divisions to account for their carbon emissions. Microsoft’s goal of removing enough carbon by 2050 to account for all its emissions since its founding in 1975 includes direct emissions from sources such as company vehicles and indirect emissions from electricity use.
Earlier this week, BlackRock CEO Larry Fink said companies must act or face investors’ anger over how unsustainable business practices might curb their future wealth. Microsoft expects to release 16 million metric tons of carbon in 2020, including indirect emissions from activities like corporate travel.
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