India, April 16 -- Microsoft is pulling back from the carbon removal market that it helped establish, putting a hold on new purchases of carbon removal credits, as sources close to the situation have indicated.
This decision could have serious consequences for hundreds of startups working on technologies aimed at sucking carbon dioxide out of the air, a field that's seen over $5 billion in investment in recent years. Microsoft's been a major player here, making up about 79% of all carbon removal credits bought so far.
The company insists that its overall sustainability strategy is still in place, highlighting that carbon removal is just one part of the puzzle, alongside efforts to cut emissions and increase efficiency. Still, this change ...