Stripe picks $1 million in carbon-removal projects to spur industry

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Instead of buying cheap carbon offsets, online-payment company Stripe founders are importing special sand to a remote Caribbean beach so waves can grind up coarse-milled olivine, allowing the ocean to absorb more carbon

Waves crash at a beach in San Francisco, California, U.S. May 15, 2020. Picture taken May 15, 2020. REUTERS/Nathan Frandino

Instead of looking for the cheapest “negative ton” offsets for carbon emissions, which can cost as little as $10, Stripe will pay as much as $800 per ton for promising new approaches.“We’re looking for underfunded and underinvested-in areas, relative to their importance in fighting climate change,” said Ransohoff. “That’s pushed us toward more early-stage stuff.”

“The Intergovernmental Panel on Climate Change says this thing is very important, and yet nobody is commercially funding this,” Collison told Reuters. Stripe is already having an impact. Microsoft was struck by Collison’s promise to spend more than necessary in hopes of spurring innovation. Microsoft later said it would invest $1 billion on carbon removal.

The second is eight-year-old CarbonCure Technologies, which puts carbon into concrete. CarbonCure’s method is used in 285 concrete plants. The third recipient is a San Francisco-based vendor called Charm Industrial, a for-profit launched two years ago by the CEO of Segment, a private software company valued at more than $1 billion.

 

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No carbon = no world.

Great work Project_Vesta !

Amazing project!

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Nothing about graphene, lithium, magnetic engines. Losing time in rotounds instead a clear highway.

stripe What happens to marine life?

stripe Importing=Transporting=co2emission.?

stripe

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