At the World Economic Forum Annual Meeting in Davos, Switzerland, Salesforce announced its plans to purchase $100m worth of durable carbon credits from technologies that remove carbon from the atmosphere.
The investment forms part of an initiative from the First Movers Coalition, a group announced by President Biden at COP26, which aims to harness the purchasing power of companies to decarbonize “hard to abate” industrial sectors.
In 2021, as a founding member of the coalition, Salesforce committed to replacing 5 percent of its conventional jet fuel usage with low- and no-carbon alternatives by 2030 with its additional commitment helping Salesforce scale carbon dioxide removal (CDR) solutions beyond 2030.
Carbon dioxide removal technologies are an important piece of the global journey to net zero and Salesforce’s Climate Action Plan focuses on six sustainability priorities, including carbon removal. With time, it will shift its carbon credit portfolio to include mostly carbon removal credits in line with the global trajectory for limiting warming to 1.5⁰C.
Suzanne DiBianca, chief impact officer at Salesforce, said: “We’re in a climate emergency and the world needs bold climate action now. We must bring disruptive clean technologies to market at scale to meet our climate goals. That’s why we’re proud to commit Salesforce’s purchasing power to drive demand for carbon removal solutions as part of the First Movers Coalition.”