Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Microsoft Climate Fund Backs Climeworks Effort to Suck Up Carbon

Jan. 28, 2021, 8:01 AM

Microsoft Corp. said its climate fund will invest in Swiss carbon-removal startup Climeworks AG, and that the company will base executive pay partially on meeting sustainability goals.

Microsoft will back Climeworks’ current project in Iceland to increase the scale of that company’s ability to suck carbon out of the air and pump it deep into the earth, as well as the company’s next project at the same site. Climeworks uses giant fans to capture CO₂ from the air. In some cases it sells the concentrated gas, marketing it to beverage companies and plastic makers.

“We like the fact that they are not only thinking ...