Carbon Removal Investments
Octopus Energy Invested $500M in Its Reforestation Carbon Removal
Adam Harrie — May 8, 2026
Octopus Energy Generation invested $500 million in Living Carbon's US reforestation carbon removal projects. The initiative targets removing up to 50 million metric tons of CO₂ over 40 years, roughly equivalent to eliminating New York City's annual greenhouse gas emissions. The projects focus on degraded land, including former mining sites and abandoned farmland, that would otherwise remain ecologically dormant.
Google, Meta and McKinsey have signed carbon offtake agreements for credits generated through the projects. Octopus also invested nearly $13 million directly into Living Carbon's development business.
As corporate net-zero commitments accelerate and the carbon removal market matures toward institutional project finance, Octopus Energy and Living Carbon show how restoring degraded land at scale can deliver measurable climate benefits while rebuilding wildlife habitat, improving water quality and supporting rural economies.
