JPMorgan and H&M join Stripe's carbon removal effort

The initiative is trying to foster a marketplace for carbon removal by helping promising climate start-ups to get initial funding.

Frontier, a subsidiary of payments company Stripe headed by brothers John and Patrick Collison, said it had secured $100m (€91.18m) in new carbon-removal purchase commitments from the biggest US bank as well as Workday, Hennes & Mauritz and Autodesk.

US banking giant JPMorgan Chase is among companies joining Stripe's carbon removal initiative funded by some of the biggest tech companies on the planet, in a sign the drive to net-zero emissions can overcome a worsening economic outlook.

Frontier, a subsidiary of payments company Stripe headed by brothers John and Patrick Collison, said it had secured $100m (€91.18m) in new carbon-removal purchase commitments from the biggest US bank as well as Workday, Hennes & Mauritz and Autodesk.