Stripe Climate is a pioneering initiative dedicated to addressing the challenges of climate change through the advancement of carbon removal technologies. Its goal is to limit the global average temperature increase to a maximum of 1.5°C above pre-industrial levels, a crucial threshold to avoid the worst consequences of climate change. To achieve this, significant reductions in global CO₂ emissions and the removal of existing CO₂ particles from the atmosphere are necessary.
While existing solutions such as reforestation and carbon sequestration in the soil play an important role, they alone cannot meet the magnitude of the challenges we face. The development of new carbon removal technologies is essential. These technologies have the potential to achieve high-volume carbon removal at low costs by 2050, even if they are still in early stages of development.
However, a significant barrier to the widespread adoption of carbon removal technologies lies in their initial costliness. Without a critical mass of utilization, production cannot be scaled up, and costs cannot be reduced. Early adopters play a vital role in influencing the further development of carbon removal technologies, helping to lower costs and increase their capacity. History has shown that broad utilization coupled with economies of scale leads to significant improvements in various fields, from DNA sequencing to solar panels.
These considerations prompted Stripe's early support and the launch of Frontier, a forward commitment to purchasing carbon removals. By providing a clear demand signal for these technologies, Stripe aims to catalyze the industry's development and expand the portfolio of solutions available to mitigate the worst effects of climate change. Join us in shaping the future by supporting Stripe Climate's efforts and becoming part of the solution.