Microsoft’s Recent Buying Spree Has Included AI Companies And Forests | Windows

“Our 15-year offtake agreement with Microsoft remains one of the longest contracted delivery schedules in the market today”, said Shannon Smith, Chief Commercial Officer of Chestnut, referencing the deal inked at the very end of last year. Easy to miss with all the noise around Microsoft and cleantech, but this deal was unique as it represented one of the larger purchases to incentivize planting new trees, not just the preservation of forests.

Technology companies are driving the majority of longer-term credit purchases, given a consumer base that wants to see emissions progress, combined with an emissions footprint lower than industrial peers, making it not financially prohibitive to offset. Carbon removal credits make up more of their budgets as those projects become available but there is a lack of projects. Chestnut was created by Kimmeridge Carbon Solutions to fill this gap in the market for high-quality carbon removal credits.

Carbon credits can be broken down into reduction, removal, or avoidance. Removal is obviously the most certain in having an impact, but due to the complexity of those projects the volume of removal credits remains small. Combine that with the fact that a lot of companies picked 2030 as their net zero date, because people like round numbers and it seemed distant when announced, and you can see an incoming shortage. Chestnut and others are working quickly to provide supply.

“Chestnut was created as a US-based afforestation developer of carbon removal credits of the highest integrity,” said Shannon. “We have registered our project on the Gold Standard, which we view as the most rigorous of the carbon credit registries. Our goal is to deliver an additional, durable carbon removal solution to discerning buyers in long-term offtake agreements, supporting both corporate net-zero strategies and the development of the carbon credit market. We took the unusual step of developing this project in the United States, believing this…

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