Microsoft has signed an agreement to offset its carbon emissions through mass tree-planting initiatives.
Chestnut Carbon sells carbon credits based on mass tree-planting projects in the US. The firm plans to plant “hundreds of thousands of acres of new US forestland”, primarily in southern states such as Arkansas, Texas and Louisiana.
The Microsoft agreement will take place in multiple phases over the next 25 years and will result in more than seven million tons of US-based carbon removal credits being generated. Chestnut Carbon estimates it will restore 60,000 acres of land by planting over 35 million native hardwood and softwood trees.
“We’re excited to be expanding our collaboration with Microsoft given their market leadership in net zero commitments, and the signing of a second agreement within the span of a year reaffirms their view that Chestnut is delivering high-quality removal credits,” said Ben Dell, CEO of Chestnut and managing partner of Kimmeridge.
“We’re confident in our belief...