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The Frontier fund, a public-benefit corporation owned by Stripe, has also received funding from Alphabet, Shopify, Meta and McKinsey. It will help fledgling carbon-removal companies scale up and reduce the cost of withdrawing each ton of CO₂ from the air, which would benefit all companies in the world looking to buy high-quality offsets.
“If we don’t hustle and figure out the real potential of these technologies, the world will be put in a challenging position,” said Nan Ransohoff, head of climate at Stripe. As much as 6 billion tons will have to be removed annually by 2050, according to the Intergovernmental Panel on Climate Change’s models. “We are relying on technologies that we don’t know can get to that scale,” she added.
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