Stripe, Alphabet, Meta, Shopify, and McKinsey launch new carbon removal initiative
by Justine Calma from The Verge - All Posts on (#5Y403)
Climeworks factory with it's fans in front of the collector, drawing in ambient air and release it, as largely purified CO2 through ventilators at the back is seen at the Hellisheidi power plant near Reykjavik on October 11, 2021. | Photo by HALLDOR KOLBEINS/AFP via Getty Images Big names in tech and consulting just made a $925 million commitment to purchase captured carbon between now and 2030. The pledge - made by Stripe, Alphabet, Meta, Shopify, and McKinsey - marks a big investment in carbon removal technologies.
Their new initiative, called Frontier, is supposed to scale up deployment of the still-emerging tech, while making it more affordable for other companies who are also looking to purchase captured carbon as a way to make up for some of the planet-heating pollution they produce.
The technology is still prohibitively expensive
There are already facilities that can filter that CO2 out of the air, as well as efforts to store CO2 in rock formations or in the ocean once it's been captured. But the...