Microsoft Inks Deal to Pay for CO2 Stored Below the Sea

Microsoft Corp. is buying credits for CO2 captured at two Danish power plants and then stored beneath the North Sea in a sign that corporate emission-reduction goals can help spur carbon storage technology.

The tech giant’s deal with Orsted A/S helped the utility in its bid to secure backing from the Danish government to trap CO2 from the biomass-fired power stations. It’s a key step for the scaling up of a technology that will be crucial for Europe to reach its goal of net zero emissions by 2050.

“It’s a combination between a private company who’s offtaking the credits ...