A look at Stripe's $925M Frontier initiative, which funds carbon-removal startups and has received funding from Alphabet, Shopify, Meta, and others
Some of the world's largest companies will spend $925 million buying offsets from startups that remove carbon dioxide from the air.
Bloomberg Akshat Rathi
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Discussion
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@stacykauk
Stacy Kauk
on x
Frontier is designed to give researchers, entrepreneurs, project developers, and investors the confidence to begin building carbon removal technologies today, and to do so with urgency.
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@stacykauk
Stacy Kauk
on x
We know we can't fight climate change alone. I'm excited to announce @shopify is joining @Stripe, @Google, @Meta, and @McKinsey Sustainability to launch Frontier, our combined $925M advance market commitment, to accelerate carbon removal. 🌍🚀 https://frontierclimate.com/
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@tobi
Tobi Lutke
on x
excited to announce @shopify is joining @Stripe @Google @Meta and @McKinsey to launch Frontier, our $925m advance market commitment, to massively accelerate carbon removal https://frontierclimate.com/ https://twitter.com/...
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@shakeelhashim
@shakeelhashim
on x
This is a good idea that could make a huge difference: https://twitter.com/...
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@akshatrathi
Akshat Rathi
on x
The largest fund for carbon-removal purchases is here, with nearly $1 billion from Stripe, Alphabet, Meta, Shopify and McKinsey. Now startups can use those purchases as a way to raise money to build their large-scale plants. https://www.bloomberg.com/...
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@akshatrathi
Akshat Rathi
on x
Why is it necessary? Scientists say carbon removal will be crucial to meet climate goals, esp. 1.5°C. “We are relying on technologies that we don't know can get to that scale,” said @nanransohoff. “If we don't hustle and figure out the real potential.” https://www.bloomberg.com/.…
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@akshatrathi
Akshat Rathi
on x
This is the kind of technology risk that typically governments and philanthropies take. What are private companies doing spending all that money? Google says future carbon-removal offsets will become cheap. Meta thinks of it not as philanthropy but R&D. https://www.bloomberg.com/…
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@christineburns
@christineburns
on x
Please don't stake our survival on a technology that is as real as Star Trek's gravity plating and transporters. The only scalable method of removing 150 years of CO2 emissions before it's too late is to grow trees literally everywhere. https://twitter.com/...
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@jasonclimateguy
Jason Hochman
on x
“Some of the world's largest companies will spend $925 million buying offsets from startups that remove carbon dioxide from the air. The Frontier fund, a public-benefit corporation owned by @stripe, has also received funding from @Google, @Shopify, @Meta and @McKinsey.”
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@johnfraher
John Fraher
on x
EXCLUSIVE The climate crisis is now so acute that it can't be solved without carbon removal. Some of the world's biggest tech companies are now investing nearly $1 billion in the technology https://www.bloomberg.com/... @climate