Some of the world’s largest companies are teaming up to commit nearly $1 billion in spurring the carbon-capture market. On April 12, Stripe, Facebook, Alphabet, Shopify and McKinsey & Co. Inc. announced the creation of Frontier, a public benefit corporation that plans to purchase $925 million worth of permanent carbon removal from companies developing the technology. The initiative will help carbon-removal companies scale up and reduce the cost of withdrawing each ton of CO? from the air, which would benefit all companies looking to buy high-quality offsets. Frontier’s development is just one of many company and government initiatives ...
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Tech Giants Commit Nearly $1 Billion Toward Carbon Capture