- Microsoft is purchasing 1.5 million tonnes of carbon credits from Climate Impact Partners through a project that will plant new forests in India, the carbon credit project developer announced Thursday.
- Climate Impact Partners announced the purchase as part of a deal with carbon market financier Terra Natural Capital, who will finance the afforestation project. Microsoft’s purchase will be completed over a 30-year period and represents half of the expected carbon removal credits that will be produced by the project.
- The Panna Afforestation Project is expected to produce a total of 3 million tonnes of carbon removal credits. The deal also becomes Microsoft’s first carbon removal project in India and its largest in the Asia-Pacific region, according to the March 6 release.
To read the news, visit Microsoft buys 1.5M tonnes of carbon credits from Climate Impact Partners | ESG Dive