Meta and Google have joined a nearly billion dollar program to fight climate change. This program aims to invest in technologies for the direct capture of carbon dioxide from the air. They joined Frontier, a subsidiary of payment manager Stripe, in order to certify that the money was indeed allocated to carbon capture projects. Note also that Shopify and the consulting firm McKinsey have also joined the program.
The members of frontier are therefore committed to investing in technologies that remove CO2 from the atmosphere, the aim being to limit emissions from the production of steel and concrete. Currently, carbon sequestration technology has removed less than 10,000 tonnes of CO2, so the goal of one billion tonnes per year is still (very) far away.
In the meantime, tech giants have started to reduce their carbon footprint by investing in renewable energy, for example.
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