Microsoft has utilized blockchain technology to purchase soil carbon credits in Australia to help meet the firm’s climate goals.
Microsoft Uses Blockchain Tech to Buy Soil Carbon Credits
In combination with Regen Network, the CarbonPlus Grassland credits issued to two ranches in New South Wales. However, the carbon credits used as a measure of soil sequestration. In addition, it is the process of capturing atmospheric carbon dioxide and storing it in soil.
Moreover, this is achieved through Regen Network’s remote sensing technology. Added to this, it also helps to monitor animal welfare, soil health, and general ecosystem health. A total of 43,338 metric tons worth of carbon credits issued to Wilmot Cattle Co in an initiative prompted by natural capital firm Impact AG before Microsoft purchased it.
The Wilmot ranchers have reportedly increased the concentration of soil organic carbon up to 4.5%, achieved through managed grazing practices. The ideal concentration of soil organic carbon is said to be 4% to 6%.
In 2020, Microsoft announced that it would search to cut its carbon footprint to zero by the year 2030. What’s more, Microsoft also aims to eliminate a volume of carbon equal to that which it has been responsible for producing since commencing operations in 1975.
Regen Network CEO Christian Shearer enjoyed the initiative, adding that it inspired hope in the concept of natural approaches to combating climate change.
Our work with Impact Ag and Wilmot Cattle Co makes us more hopeful than ever that agricultural and nature-based solutions to climate change are not only real but have the potential to rapidly sequester carbon and build resiliency into our food systems
In addition, the scale at which Microsoft is buying carbon credits should give us all hope that business will be a catalyst for change.