The Ottawa-based e-commerce company, along with Alphabet, Meta, Stripe and McKinsey & Company, launched Frontier, which plans to buy US$925 million in carbon removal. The spending will be rolled out between 2022 and 2030. (The Logic)
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The Ottawa-based e-commerce company, along with Alphabet, Meta, Stripe and McKinsey & Company, launched Frontier, which plans to buy US$925 million in carbon removal. The spending will be rolled out between 2022 and 2030. (The Logic)
Talking point: Frontier, which will operate as a wholly owned subsidiary of Stripe, “aims to accelerate the development of carbon-removal technologies by guaranteeing future demand for them,” according to its website. Shopify previously announced in March it would pay nine companies to capture and store over 12,000 tonnes of carbon dioxide from the atmosphere permanently and 80,000-plus tonnes temporarily, in an attempt to prove the commercial viability of carbon removal. Shopify’s sustainability fund had already committed $32 million to such projects, the company said at the time.
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