BeZero 公布 14 項 Microsoft 碳移除風險評級，審查前移至信用發行前

BeZero Carbon 發布 14 項 Microsoft 支持專案的獨立前瞻評級，將風險判斷移到信用尚未發行的階段。專案分布於美國、阿根廷、印度與秘魯。

BeZero Carbon has published independent ex ante ratings for 14 Microsoft-backed projects, moving risk assessment to the stage before credits are issued. The projects span the United States, Argentina, India and Peru.

企業長期採購正推動碳移除市場擴張。被評專案涵蓋改良森林管理、土壤碳、生物炭與農林複合，風險結構與交付週期並不相同。

Long-term corporate purchasing is expanding the carbon-removal market. The rated projects include improved forest management, soil carbon, biochar and agroforestry, each with different risk profiles and delivery timelines.

前瞻專案尚無完整發行與營運紀錄，評估必須依賴設計、基線、合約與執行能力。額外性、會計、耐久性和逆轉風險都可能隨時間變化。

Pre-issuance projects lack complete delivery and operating histories, so assessment relies on design, baselines, contracts and execution capacity. Additionality, accounting, durability and reversal risk can change over time.

BeZero 表示評級檢視額外性、碳會計、耐久性、執行風險及更廣泛影響。買方可把評級當作盡職調查輸入，但仍須保留專案文件與後續監測證據。

BeZero says the ratings examine additionality, carbon accounting, permanence, execution risk and wider impacts. Buyers can use ratings as diligence inputs, but should retain project documents and continuing monitoring evidence.

14 項評級與四國分布來自 BeZero 公告及 ESG News。報導並指出 Microsoft 於 2025 財年簽約超過 4,500 萬噸移除量，該數字是合約規模，不等於已交付或已註銷。

The 14 ratings and four-country distribution come from BeZero and ESG News. The report says Microsoft contracted more than 45 million tonnes of removal in fiscal 2025, which represents contracted volume rather than delivered or retired credits.

公開前瞻評級可提高早期專案透明度，也可能影響融資與價格。但評級模型、資料更新與利益衝突管理將成為市場可信度的一部分。

Public ex ante ratings can improve early-project transparency and influence financing and pricing. Rating models, data updates and conflict management will also become part of market credibility.

SNN 編輯分析：風險評級不是碳成果證明。可信採購需要把初始評估、合約批次、實際交付、監測、查證與註銷串成持續更新的證據鏈。

SNN editorial analysis: A risk rating is not proof of carbon outcomes. Credible procurement connects initial assessment, contract batches, delivery, monitoring, verification and retirement in a continuously updated evidence chain.

後續應追蹤各專案評級變化、信用發行、交付與逆轉事件，也應確認評級方法、資料來源及買方如何使用評級決策。

Next checks should track rating changes, issuance, delivery and reversals for each project, together with rating methodology, data sources and buyer use of the assessments.