Google’s carbon strategy: over $100m purchased credits in 2024

Google has significantly expanded its commitment to carbon dioxide removals (CDRs), securing nearly 800,000 tonnes of CO₂ removals (tCO₂e) to date. The company, which has been actively involved in both direct purchases and buyers' coalitions, has indicated plans to scale its acquisitions further this year.

A close-up of a hand holding a handful of biomass, with a newly planted forest in the background. AI generated picture.

According to an update on its website, Google has procured these CDR credits across multiple carbon removal approaches, with its largest investment going into biomass carbon removals and storage. ‘We're encouraged by our progress, but the journey to catalyse carbon removal is just beginning’, the company stated.

In 2024, Google has already contracted over $100 million in CDR credits—tripling its initial pledge for the year. These purchases have been distributed across several technological and nature-based solutions, including:

• Biomass carbon removals and storage – 344,361 tCO₂e across six projects in four countries
• Enhanced rock weathering – 262,115 tCO₂e from six projects in five countries
• Direct air capture – 121,714 tCO₂e from three projects, all in the US
• Restoring natural carbon sinks – 62,695 tCO₂e across projects in Brazil and Canada

Read more: Tesla’s carbon credit profits hit $2.76 billion as EV market shifts

Beyond its direct acquisitions, Google plays a key role in two major CDR buyers’ coalitions. The Frontier coalition, co-founded by Google in 2022, pools $1 billion to purchase CDR credits between 2022 and 2030, backed by major corporations such as Alphabet, JP Morgan Chase, Meta, Microsoft, McKinsey, and Stripe.

Last year, Google also joined the Symbiosis Coalition, alongside Meta, Microsoft, and Salesforce, with the goal of securing up to 20 million tCO₂e of nature-based CDR credits by 2030. The group launched its first request for proposals (RFP) in December, prioritising large-scale reforestation and agroforestry projects capable of delivering at least 1 million tCO₂e over their lifetime.

With a strong start to 2024 and a focus on expanding its portfolio, Google is positioning itself as a major driver in the evolution of the carbon removal market, reinforcing its commitment to finding scalable, impactful solutions.

Read more: Google’s nature-based strategy: achieving net zero while enhancing biodiversity

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