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Stripe teams up with major tech companies to commit $925 million toward carbon capture

Catherine Clifford of CNBC writes on Stripe’s commitment to accelerate carbon capture.

The C3 Take
  • Online payments technology provider Stripe is teaming up with Meta, Shopify, McKinsey, and others to create Frontier.
  • Frontier will purchase close to $1 billion worth of permanent carbon removal from companies.
  • Frontier will collect financial commitments from companies or governments that are wishing to decarbonize, vet potential carbon capture technologies, and pay the suppliers when solutions are delivered.
  • Private sector leadership is key to creating a cleaner future.

“Stripe will also provide customers to Frontier through its Stripe Climate program, which allows online sellers using the company’s platform to devote a portion of sales to carbon removal.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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