Rubicon Carbon - Microsoft framework agreement (18 Mt)

Terms

Not ranked

Offtake, therefore not eligible for carbon financing league table

Announced

15 May 2025

Instrument

Offtake

Amount

18,000,000 tCO2eNo cash value disclosed

Source

businesswire.com

Parties

Project developer

Rubicon Carbon

Recipient type

Carbon finance specialist

Country

United States

Buyers

• Microsoft

Carbon

Pathway

Afforestation / reforestation

Project type as recorded

Afforestation, reforestation and revegetation (ARR)

What happened

Framework agreement under which Rubicon Carbon sources 18 million tonnes of nature-based carbon removal credits for Microsoft, to be contracted as a series of 15 to 20 year offtakes over afforestation, reforestation and revegetation projects. Rubicon sources, assesses and conducts due diligence on the projects; the release describes the purpose as anchoring long-term offtake agreements to unlock private investment. No contract value, price or delivery schedule is disclosed. Recorded, not ranked: no source states that capital moved before the credits did, and silence on payment timing means it does not rank. Every party is an offtaker, so the parties carry Credit = Buyer and Party class = Infrastructure and none is a capital provider.

Kumo note

The largest single nature-based offtake framework in this dataset by volume, and structurally the most interesting thing about it is that it is a framework rather than a contract: it sets up a pipeline of fifteen to twenty year offtakes that individual projects are then financed against. A corporate buyer committing over that horizon is what lets a developer raise against the contract, which is the mechanism this whole dataset exists to track.

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