Frontier Climate, co-founded by Shopify, Google, Stripe, Meta, and McKinsey Sustainability, purchased 667,000 tonnes of carbon removal credits in 2024, supporting 16 CO2 removal deals. The initiative, launched in 2022, aims to bolster the emerging carbon capture sector by providing revenue to startups for successfully storing atmospheric CO2.
Key contracts include Vancouver’s CO280, receiving over 224,000 credits for capturing biomass emissions, and Connecticut’s CREW, which secured 72,000 credits for its CO2-reactor technology. Shopify’s CEO, Tobi Lütke, underscores the Sustainability Fund’s commitment to advancing carbon removal innovation as vital for climate solutions.
Want to know more? Check out the source code on The Logic.