Microsoft to buy 8 million carbon credits from BTG Pactual in largest-ever sale
SAO PAULO : Brazilian funding financial institution BTG Pactual’s forestry arm mentioned on Tuesday it agreed to promote 8 million carbon offset credits to Microsoft, the largest-ever sale of such credits.
BTG Pactual Timberland Funding Community (TIG) did no longer dispute financial details of the transaction, which MSCI Carbon Markets mentioned is the largest known carbon dioxide elimination credit transaction as much as now.
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Microsoft did no longer without delay answer to request for comment.
Carbon offsets enable corporations to offset some of their greenhouse gas emissions by paying for actions to prick emissions in numerous places. Every credit represents the discount of one tonne of carbon dioxide emissions and would possibly well furthermore furthermore be extinct to meet company climate targets.
BTG Pactual TIG mentioned the credits had been generated by its woodland restoration projects in Latin The US.
Commercial
Source: Reuters
