Google boosts carbon removal investments with over $100m in 2024 purchases

Google is accelerating its commitment to carbon removal, securing nearly 800,000 tonnes of CO2 removals (tCO2e) through direct investments and strategic partnerships. The company has signaled even greater expansion in 2024, aiming to scale its efforts in response to growing demand for effective carbon reduction solutions.

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

In a recent update, Google confirmed it has procured 790,912 tCO2e across multiple carbon removal technologies. The largest share of its investment has gone into biomass carbon removals and storage, highlighting the company’s focus on scalable solutions. "We're encouraged by our progress, but the journey to catalyse carbon removal is just beginning," the company stated.

This year alone, Google has already committed more than $100 million to carbon removal credits, tripling its initial 2024 pledge. The company’s investments span various approaches, 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 U.S.
• Restoring natural carbon sinks – 62,695 tCO2e across projects in Brazil and Canada

Beyond its own purchases, Google plays a leading role in two major carbon removal coalitions. The Frontier coalition, co-founded in 2022, manages a $1 billion fund to purchase carbon removal credits through 2030, with backing from major companies like Alphabet, JP Morgan Chase, Meta, Microsoft, McKinsey, and Stripe.

The company is also a key player in the Symbiosis Coalition, which it co-founded alongside Meta, Microsoft, and Salesforce last year. This initiative aims to secure up to 20 million tCO2e of nature-based carbon removal credits by 2030. In December, the coalition launched its first request for proposals (RFP), prioritising large-scale reforestation and agroforestry projects capable of delivering over 1 million tCO2e throughout their lifetime.

With major financial commitments and a growing portfolio of carbon removal solutions, Google is positioning itself as a key driver in the evolving carbon market. As corporations increasingly turn to large-scale CDR investments, the demand for scalable, high-impact projects is set to rise—presenting opportunities for both businesses and investors to engage in meaningful environmental action.