Stripe, Alphabet and Others to Spend Nearly $1 Billion on Carbon Removal
A new fund aims to unlock billions of dollars needed to scale a technology scientists say will be crucial to tackle climate change. 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 Inc., has also received funding from Alphabet Inc., Shopify Inc., Meta Platforms Inc. and McKinsey & Co. Inc. It will help fledgling carbon-removal companies scale up and reduce the cost of withdrawing each ton of CO₂ .... (read full article here)