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Author: abromber ✧  😊 😞
Number: of 15055 
Subject: OXY selling carbon credits backed by DAC
Date: 07/09/2024 9:36 PM
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OXY just announced its 1PointFive carbon capture and sequestration unit has agreed to sell MSFT 500K metric tons of carbon dioxide removal (CDR) credits over six years to support MSFT's commitment to becoming carbon negative by 2030. The CDR credits will be enabled by STRATOS, OXY's first industrial-scale direct air capture facility currently under construction in Texas. Under the deal terms, the captured carbon dioxide underlying the credits will be securely stored through subsurface saline sequestration and will not be used to produce oil and gas.

OXY said the agreement is the largest single purchase of CDR credits enabled by direct air capture to date.

https://www.1pointfive.com/news/1pointfive-and-mic...

abromber
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