Google has made its first foray into nature-based carbon removal by agreeing to purchase carbon credits from a Brazilian startup, marking its initial involvement in carbon projects in South America.
Google plans to acquire 50,000 metric tons of carbon removal credits from Mombak by 2030, the companies announced on Thursday. Mombak focuses on purchasing degraded land from farmers and ranchers or collaborating with them to replant native species in the Amazon rainforest.
This move follows in the footsteps of fellow US tech giant Microsoft, which last year secured a deal to purchase up to 1.5 million credits from Mombak. The specifics of Google’s agreement with the Brazilian startup remain undisclosed. In 2023, Mombak sold credits to McLaren Racing at an average price exceeding $50 per ton.
“The vote of confidence for us and this sector in general that comes from Google stepping into this is a really positive signal,” Mombak’s Chief Technology Officer Dan Harburg said in an interview.
This announcement coincides with New York’s annual Climate Week, where companies and officials are gathering to discuss climate initiatives. Earlier this week, Meta announced a deal to buy up to 3.9 million carbon offset credits from BTG Pactual’s forestry division in Brazil.
Google, Microsoft, Meta, and Salesforce are co-founders of the Symbiosis Coalition, which aims to procure up to 20 million tons of nature-based carbon removal credits by 2030.