Microsoft used blockchain to buy greenhouse gas credit
Using Regen Network’s Cosmos Blockchain Solution, Microsoft Acquires 43 Emission Rights 338 tons of greenhouse gases in Australia.
In an effort to reduce its negative impact on the environment, the largest software manufacturer bought a carbon loan originally issued to two ranches in New South Wales.
The Regen Network solution was used in the registration of the transfer of rights, and in the future it will help monitor the process of capturing and storing atmospheric pollutants using remote sensing technology.
The purchase is part of a plan announced in 2020 that seeks to reduce Microsoft’s environmental footprint to zero over the next 10 years. The company also intends to extract from the atmosphere a volume of carbon dioxide equal to that for which it has been responsible since it began operations in 1975..
Last year’s survey by auditing firm Deloitte showed that 39% of the world’s largest companies are already using blockchain.
text: Ivan Malichenko, photo: Getty Images