Stripe Climate increases carbon removal commitments

The purchase cover a wide range of technologies including permanent geologic storage, ocean alkalinity enhancement, enhanced weathering and direct air capture

John Collison, president and co-founder of Stripe Inc, left, and Patrick Collison, chief executive officer and co-founder of Stripe Inc.

Digital payments company Stripe is making $6m (€5.32m) in carbon removal purchases from four new companies.

The purchases and upfront financial support for the firms forms part of Stripe Climate, a product that allows a business to automatically direct a fraction of its revenue toward these carbon removal technologies.