Microsoft, Occidental sign carbon credit deal to offset AI energy

Financial Times July 9, 2024, 02:00 PM UTC

Summary: Microsoft and Occidental Petroleum signed a carbon credit deal worth hundreds of millions of dollars. Occidental will sell 500,000 carbon credits to Microsoft over six years, the largest deal of its kind. Microsoft aims to offset emissions from AI expansion. Occidental's carbon management subsidiary sees tech as a priority sector. The deal involves direct air capture technology, with Microsoft's credits coming from Occidental's Stratos project in Texas.

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