It looks like Brandon Middaugh is heading up the $1B Microsoft climate fund

Middaugh has been at Microsoft for more than four years and worked as one of the architects of the company’s climate strategy during her tenure at the company. In her previous role as part of the company’s Cloud Energy and Sustainability team, Middaugh led the distributed energy strategy and was a part of the partnership Microsoft initiated with the East Coast regional transmission organization, the PJM — which manages the power grid for a large swath of the Northeastern and Mid-Atlantic region of the U.S.

It appears that Middaugh is going to be taking point on the deployment of that $1 billion fund Microsoft announced in January, according to people who have discussed the company’s investments.

At the January event, Microsoft committed to going “carbon negative” by 2030 and said that it would remove by 2050 the equivalent of all the carbon it had emitted into the atmosphere since its founding in 1975. Those commitments are far more aggressive than any made by any other corporation in any industry.

Part of the plan involves expanding the carbon fee the company has imposed internally on its direct emission across its supply and value chains. The $1 billion fund is part of that effort to reduce emissions from suppliers and customers by financing projects and technologies that can reduce emissions with new generation or efficiency technologies, or capture and remove carbon from the atmosphere.

Equity and debt investments have to meet four criteria, including: the ability to drive meaningful decarbonization, climate resilience or other sustainability-related goals; have additional market impacts for future climate solutions; can address Microsoft’s own climate debt; and have implications for the unequal distribution of climate impacts.

Late last year, Amazon committed that it would move to 100% renewable energy powering its operations by 2030 and that it would achieve net zero carbon emissions by 2040. Meanwhile, Alphabet has been developing renewable energy projects under its moonshot division and has long been an investor in climate mitigation technologies, including the use of renewables to power its operations.

All of these efforts will need to be met by additional work from corporations and financial institutions across every industry if the world is to reduce the most dire effects of dramatic climate change. Already forest fires, flooding and other climate-related catastrophes have led financial investors and insurers to push for better mitigation strategies and to bring climate impacts front and center within corporate strategies.

Microsoft had not replied to a request for comment by the time of publication.