Microsoft pledged to be carbon negative by 2030 and to extract all its emitted carbon by 2050.
Shares of Microsoft MSFT rose Thursday, after the software giant said it planned to reduce and then remove its carbon footprint.
The Redmond, Wash., company pledged to be carbon negative by 2030. And Microsoft said that by 2050, it would extract from the environment all the carbon it has emitted either directly or by electrical consumption since it was founded in 1975.
“While the world will need to reach net zero, those of us who can afford to move faster and go further should do so,” Microsoft President Brad Smith said in a statement.
“That's why today we are announcing an ambitious goal and a new plan to reduce and ultimately remove Microsoft's carbon footprint.”
The company said it would use its technology to help its suppliers and customers slash their own carbon footprints. And Microsoft will form a $1 billion climate innovation fund to push the global development of carbon reduction, capture and removal technologies.
Starting next year, Microsoft will make carbon reduction a stated element of the procurement processes for its supply chain. And it will implement an annual environmental sustainability report to document its process.
Microsoft also pledged to fight for public policy that will accelerate carbon reduction and removal opportunities.
The software giant isn’t the only company moving to combat climate change. Larry Fink, CEO of mammoth money manager BlackRock BLK, said Tuesday that the firm would make climate change central to its investment considerations.
Microsoft shares at last check stood at $165.47, up 1.4%. The stock has jumped 58% over the past year.
The author owns shares of Microsoft and BlackRock.
This news is provided by TheStreet RSS Feed, All credits go to TheStreet. For more The Street News please visit: https://www.thestreet.com/
Disclaimer: All posts made on this website are provided for information purposes only. None of the information here is intended as investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, Company, or fund. Before making an investment decision, you should seek the advice of a qualified and registered securities professional. The author is not paid to share this information. Cannabis Investment Group is not paid to share this information and has no business relationship other than shareholder with any company whose stock is mentioned in this article.