The tech giant is no longer buying carbon removal credits, sources told Bloomberg and climate news publication Heatmap. Through the program, Microsoft was the world’s biggest source of carbon-removal financing. (Bloomberg, Heatmap)

Talking point: The company’s carbon credit purchases last year accounted for 90 per cent of the market or more, according to industry estimates. It said in January that since June 2023, it had entered contracts for more than 60 projects to remove more than 78 million metric tons of carbon. It has struck deals with several Canadian companies, including Deep Sky, and earlier this month it agreed to buy 626,000 metric tons of credits from a carbon removal project being developed in Saskatchewan. Microsoft has touted the program as a key component to hitting its climate targets, which include being carbon negative by 2030, and removing the equivalent of all the carbon it has historically emitted by 2050. Microsoft did not immediately respond to The Logic’s request for comment. Heatmap reported that a company spokesperson denied it was pausing the program indefinitely.