Have you ever asked yourself, “Which company buys the most carbon credits in the world?” It’s a good question and one that’s getting more attention as climate change becomes a bigger concern.

In 2024, two companies stood out as the biggest buyers of carbon credits: Shell and Microsoft. These two giants are taking very different paths, but both are spending millions to reduce their impact on the environment. Let’s break it all down in simple terms.

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First, What Are Carbon Credits?

Think of a carbon credit like a permission slip that lets a company release one ton of carbon dioxide into the air. Companies that can’t completely stop polluting buy these credits to “cancel out” their emissions. The money they spend goes toward environmental projects that reduce pollution like planting trees or building clean energy systems.

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Shell: The Biggest Buyer in 2024

Shell, a major oil and gas company, bought more carbon credits than anyone else in 2024 around 14.5 million of them. This is part of their plan to balance out the pollution caused by their operations.

Here’s how they did it:

• Nature-based projects: Most of Shell’s credits (about 9.4 million) went to protecting forests. These projects help keep trees standing so they can absorb carbon from the air.
• Clean energy projects: Shell also bought credits from renewable energy projects like wind and solar (about 2.4 million credits).
• Low-cost strategy: On average, Shell paid just over $4 per credit. That means they focused on cheaper options, even if some of them raised questions about how effective they really are.

While Shell is buying a lot of credits, some experts say the types of projects they’re supporting might not always deliver long-term environmental benefits. But Shell sees this as an important part of its goal to reach net-zero emissions by 2050.

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Microsoft: Focused on Removing Carbon from the Air

Microsoft took a different approach. They bought 9.4 million carbon credits in 2024 not as many as Shell, but they’re spending more on high-quality, long-term solutions.

Here’s what Microsoft is doing:

• Planting forests: Microsoft signed a 25-year deal to plant over 35 million trees on 60,000 acres of land. That’s a huge commitment to capturing carbon naturally.
• New technology: They’re also investing in high-tech solutions like Direct Air Capture, which uses machines to suck carbon dioxide straight out of the air.
• Serious funding: Microsoft has committed over $760 million to fighting climate change through their Climate Innovation Fund.

Microsoft isn’t just trying to balance today’s pollution they’re also trying to erase pollution from the past. Their goal is to become carbon negative by 2030.

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Other Big Buyers of Carbon Credits

Shell and Microsoft are leading the way, but they’re not the only ones buying carbon credits:

• Meta (Facebook): Bought nearly 4 million credits from forestry projects in Latin America to meet its own net-zero goal by 2030.
• Amazon: Investing in forest protection projects to offset emissions from its huge supply chain.
• Delta Air Lines: One of the top airline companies using carbon credits to reduce its environmental impact from flights.

These companies are all trying to balance their emissions while continuing to grow their businesses.

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Are Carbon Credits Always a Good Thing?

That depends. Carbon credits can be a useful tool for reducing emissions, but they aren’t perfect.

Some projects especially ones that say they’re protecting forests don’t always work the way they’re supposed to. If a company buys cheap credits from projects that don’t actually reduce carbon, it can give the false impression that they’re being environmentally responsible.

This is why experts are calling for more transparency and better standards in the carbon credit market. Companies should focus on real, measurable, and permanent carbon reduction not just doing the bare minimum.

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Final Thoughts

So, who’s the biggest buyer of carbon credits?

• Shell buys the most in terms of volume, mostly from cheaper, nature-based projects.
• Microsoft spends more on higher-quality projects that remove carbon from the air using new technologies.

Both are doing what they can to offset their emissions, but they’re using different strategies. As more companies join the voluntary carbon market, the focus will shift from simply buying credits to making sure those credits actually work and help the planet for the long haul.