Microsoft says reducing emissions won't be enough to stop catastrophic climate change. It's investing in efforts to pull carbon out of the atmosphere.
Microsoft Corp. unveiled plans to invest $1 billion to back companies and organizations working on technologies to remove or reduce carbon from the earth’s atmosphere, saying efforts to merely emit less carbon aren’t enough to prevent catastrophic climate change.
The company’s Climate Innovation Fund will provide money over the next four years for equity investments, debt financing and other support for the development of carbon-removal technology. The fund won’t be used for Microsoft’s philanthropic efforts on climate, although those will continue separately. The software maker is also“This is the decade for urgent action for Microsoft and all of us,” Microsoft Chief Executive Satya Nadella said at an event Thursday at the company’s Redmond, Wash.
Engineers have devised ways to capture carbon dioxide, either pulling it from the exhaust of smokestacks or sucking it directly from open air. The gas can be stored underground or put to use — for example, it can be incorporated into products such as cement. Because most governments don’t impose a penalty or tax for carbon emissions, there’s currently no monetary incentive for companies to buy the technologies, and developers have struggled to turn them into viable businesses.
As it cuts its emissions, Microsoft plans to tackle the amount of carbon it generates and the emissions released into the environment by suppliers and customers. The company said it will use 100% renewable energy for all its buildings and data centers by 2025, and electrify all campus vehicles by 2030. That’s part of Microsoft’s plan to be carbon negative in 10 years, meaning it will remove more carbon from the atmosphere than it emits.
Some companies and local governments have been stepping up action on the environment, following the U.S. withdrawal from the Paris climate accord and amid rising concern about the pace of
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chris Hemsworth Announces He's Donating $1 Million to Australian Wildfire Relief'We’re really still in the thick of it here, as there’s plenty of challenging times ahead and still to come.'
Read more »
Under fire in India, Amazon offers small business owners $1 billion olive branchUnder fire in India, Amazon CEO offers small business owners $1 billion olive branch during a goodwill visit by Sankalp_sp AdityaKalra
Read more »
Amazon’s Bezos Pledges New $1 Billion India Investment Amid PushbackDuring a visit to India, Jeff Bezos says the new money is meant to help more local businesses start selling on Amazon’s marketplace, as Indian policy makers have been tightening restrictions on U.S. companies.
Read more »
Amazon pledges $1 billion to small businesses in India as Jeff Bezos is met with protestsJeff Bezos announced Amazon will invest $1 billion to help digitize small and medium businesses in India.
Read more »
Jeff Bezos said Amazon is investing $1 billion in India - Business InsiderJeff Bezos' arrival in India was met by protesters who claim Amazon is driving small retailers out of business by undercutting them on price.
Read more »