Trends
Google makes first purchase of nature-based carbon credits from Brazilian startup
OUR TAKEGoogle’s purchase of nature-based carbon credits signals growing corporate interest in natural solutions like reforestation to combat climate change, expanding beyond engineered carbon removal methods.–Jennifer Yu, BTW reporter What happened Google has agreed to buy 50,000 metric tons of nat…
Headline
OUR TAKEGoogle’s purchase of nature-based carbon credits signals growing corporate interest in natural solutions like reforestation to combat climate change, expanding beyond engineered carbon removal methods.–Jennifer Yu, BTW reporter What happened Google has agreed to buy…
Context
OUR TAKE Google’s purchase of nature-based carbon credits signals growing corporate interest in natural solutions like reforestation to combat climate change, expanding beyond engineered carbon removal methods. –Jennifer Yu, BTW reporter Google has agreed to buy 50,000 metric tons of nature-based carbon removal credits by 2030 from Brazilian startup Mombak, marking its first involvement in carbon projects in South America. Mombak restores degraded land in the Amazon by replanting native species.
Evidence
Pending intelligence enrichment.
Analysis
This follows a similar move by Microsoft, which signed a deal with Mombak last year to buy up to 1.5 million credits. Financial terms of Google’s deal weren’t disclosed, but Mombak previously priced its credits at over $50 per ton. Mombak’s CTO, Dan Harburg, called Google’s participation a “positive signal” for the sector, hoping it will inspire more deals. The announcement coincides with New York’s Climate Week, during which major companies, including Google, pledge to support nature-based carbon removal projects. However, critics argue that carbon offset schemes allow companies to continue emitting greenhouse gases instead of directly cutting emissions. Also read: Google halts $200M data centre project in Chile over environmental concerns
Key Points
- Google will buy 50,000 metric tons of nature-based carbon removal credits from Brazilian startup Mombak, marking its first carbon project in South America.
- The deal signals growing interest in nature-based solutions, but critics argue carbon offsets let companies avoid directly reducing emissions.
Actions
Pending intelligence enrichment.
