Meta, Alphabet join Stripe-owned carbon capture program
Meta and Alphabet earlier announced their participation in a carbon capture program run by Frontier, a subsidiary of payments service provider Stripe, which is expected to invest nearly $1 billion in costs to fight climate change.
Frontier says it will spend $925 million between 2022 and 2030 to advance technologies that can remove large amounts of carbon dioxide from the atmosphere. The addition of Meta and Alphabet to the carbon capture project this time is expected to accelerate the development of related technologies. Prior to this, e-commerce company Shopify, and management consulting firm McKinsey also accelerated the plan.
In Frontier’s plan, related technologies for combating the impact of climate change will become feasible, thereby helping more companies to reduce carbon emissions or achieve carbon neutrality.
In addition to reducing carbon dioxide emissions through carbon capture technology, other practices such as introducing more renewable energy or reducing carbon dioxide emissions in the supply chain are also adopted by many companies as sustainable development methods.