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AT&T, the largest telecommunications company in the United States, is set to contract carbon credits with 1PointFive, a carbon capture company of Occidental Petroleum.
1PointFive announced on the 13th that AT&T has agreed to purchase carbon credits as part of its goal to reduce and neutralize carbon emissions from global operations by 2035.
1PointFive is Occidental’s carbon capture, utilization, and storage sector.
AT&T plans to purchase carbon credits from STRATOS, 1PointFive’s direct air capture facility, which is currently under construction in Texas.
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Carbon credits are tradable permits that allow the owner to emit a certain amount of greenhouse gases.
Each carbon credit allows the equivalent emission of 1 metric ton of carbon dioxide or other greenhouse gases.
1PointFive has previously announced carbon credit contracts with Amazon, Boston Consulting Group, and Trafigura.
However, AT&T and 1PointFive did not disclose the financial details of this agreement.
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