Stripe starts paying firms to remove CO₂ from the air

Many climate efforts are focused on reducing emissions, but in order to combat climate change, carbon also must be removed from the air

Founder of Stripe, John and Patrick Collison. Key backers of the Frontier Fund.

The nascent $925m (€883m) carbon-removal effort funded by major technology firms has started writing checks to fledgling companies aiming to remove CO₂ from the air.

The Frontier fund said it has selected six startups to receive grants or pre-purchase agreements — essentially, advance payments for carbon removal in the future — from the fund. It’s the first set of commitments from the fund, which has raised money from Stripe, Meta, Alphabet, Shopify and McKinsey & Co. The fund debuted earlier this year and grew out of similar carbon-removal purchase programs at Stripe and Shopify.