Meta joins Google as the second high-profile hyperscale to commit to the DOE’s program.
Meta has revealed plans to invest up to $35 million in carbon removal projects over the next 12 months. The decision is in response to the US Department of Energy’s (DOE) Carbon Dioxide Removal Purchasing Challenge, launched in March.
The program calls on external organisations to join the DOE in purchasing high-quality carbon dioxide removal credits, catalysing purchases, and improving transparency of the carbon dioxide removal credit supply.
The DOE said it will create a public leaderboard recognising buyers and tracking voluntary carbon removal purchases. Meta’s pledge mirrors that of the DOE, which will invest up to $35 million in carbon removal technologies.
Meta joins Google as the second high-profile hyperscale to commit to the DOE’s program.
The decision is part of a broader push by large-scale technology companies to achieve net zero emissions across their value chains. Both Google and Meta have committed to net zero by 2030, leading to an increased interest in carbon removal as a means to achieve decarbonisation.
For example, in September, Meta signed a long-term contract to purchase 1.3 million nature-based carbon removal credits from BTG Pactual Timberland Investment Group, with an option to deliver an additional 2.6 million credits through 2038.
Also, in September, Google signed a $10 million deal to purchase direct air capture credits from startup Holocene, which will be delivered in the early 2030s.
