Agreement demonstrates shared commitment to high-integrity projects that, beyond sequestering carbon, support biodiversity and benefit local communities long term
LOS ANGELES, Feb. 21, 2024 /PRNewswire/ — Catona Climate, a global climate finance company, today announced that Microsoft has signed a six-year offtake agreement to purchase 350,000 tonnes of carbon removal credits from an agroforestry project in Kenya. Funded, designed and managed by Catona in collaboration with long-standing nonprofit partner, Trees for the Future, this project supports Microsoft’s goal to become carbon negative by 2030.
The Lake Victoria Watershed Agroforestry Project located in Homa Bay, Kenya, partners with 15,000 local smallholder farmers to develop forest gardens — multi-tiered mixtures of trees, shrubs, and crops — on their land. Farmers receive training in this agricultural practice that maximizes yields without the use of fertilizers or pesticides, prevents deforestation and biodiversity loss, reduces impacts from drought and soil runoff from integrated water and soil conservation, provides consistent income streams, and increases food security.
“Catona has been instrumental in helping us finance, design and implement this groundbreaking community-driven project, and I’m thrilled to have a climate leader like Microsoft involved as well,” said Tim McLellan, Trees for the Future CEO. “Microsoft’s support of nature-based solutions and this project align nicely with our vision to revitalize degraded lands and enhance the lives of farming communities around the world through sustainable agroforestry practices.”
This project highlights the high-quality nature-based solutions that make up Catona’s carbon portfolio, developed in partnership with a network of trusted project implementation partners like Trees for the Future and collaboration with leading corporate purchasers of carbon removal like Microsoft.
“This collaboration demonstrates what’s possible when like-minded stakeholders come together to align on project quality and impact,” added Rob Lee, Catona Climate’s Chief Carbon Officer. “There is no path to meeting Paris Agreement targets that doesn’t involve carbon removals. Our job is to source, vet, design, finance, monitor and measure the projects that will allow companies like Microsoft to achieve their climate goals, so we can all look forward to a sustainable future.”
Brian Marrs, Senior Director for Energy & Carbon Removal at Microsoft said, “With organizations like Catona, we’re able to add agroforestry projects to our portfolio that not only remove carbon but also meaningfully support biodiversity and benefit local communities in the short and long term.”
About Catona Climate
Catona Climate is a climate finance company that delivers high-quality carbon solutions to businesses everywhere, helping transform climate pledges into measurable action through rigorously vetted high-impact nature-based carbon projects around the world. Guided by an unwavering commitment to the planet, Catona Climate exists to combat the climate crisis by driving capital to nature and enabling a fair and equitable transition to a net-zero future. Catona Climate is a member of the Business Alliance to Scale Climate Solutions, Project Drawdown, IETA and other critical industry groups dedicated to accelerating climate action. For more information, visit Catona.com.
About Trees for the FutureTrees for the Future (TREES) trains communities on sustainable land use so that they can grow vibrant economies, thriving food systems, and a healthier planet. Learn more about Trees for the Future at www.trees.org.
Media ContactsCatona Climatepress@catona.com
SOURCE Catona Climate
