Microsoft to Invest $1 Billion in Carbon-Reduction Technology
Software maker commits to becoming “carbon negative” by 2030
Microsoft's climate investment is part of a broader plan, says Brad Smith.
Microsoft Corp. unveiled plans to invest $1 billion to back companies and organizations working on technologies to remove or reduce carbon from the earth’s atmosphere, saying efforts to merely emit less carbon aren’t enough to prevent catastrophic climate change.
The company’s Climate Innovation Fund will provide money over the next four years for equity investments, debt financing and other support for the development of carbon-removal technology. The fund won’t be used for Microsoft's philanthropic efforts on climate, although those will continue separately. The software maker is also pledging to be “carbon negative”, meaning it will remove more carbon than it emits, by 2030.