Microsoft has extended its dominance of the market for carbon removals with a series of deals that involve direct air capture in North America and burning rubbish for energy in Oslo.
The $2.8tn software group accounts for about 80 per cent of credits ever purchased from technology-based carbon removal projects, rising to make up 92 per cent of purchases in the first half of the year, according to data provider AlliedOffsets. Microsoft’s spending accounts for about $8bn of the $9.5bn market to date.
Big Tech rivals Amazon and Google have bought fewer credits, which each represent one tonne of CO₂ removed from the atmosphere. They respectively make up 0.7 per cent and 1.4 per cent of the market.
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