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In a significant stride towards combating climate change, Google unveiled a $35 million commitment to match the U.S. Department of Energy’s (DOE) Carbon Dioxide Removal Purchase program. This ambitious initiative signifies Google’s dedication to fostering innovation in carbon removal technologies while bolstering public-private collaboration in this crucial arena.
Over the next year, Google will leverage its own initiatives to contract for at least $35 million worth of carbon removal credits. This financial commitment underscores Google’s belief that a public-private partnership model is essential for accelerating the commercialization of promising carbon removal solutions. By working in tandem with the DOE, Google aims to create a more robust and sustainable market for these technologies.
The Intergovernmental Panel on Climate Change’s (IPCC) recent report serves as a stark reminder of the multifaceted approach needed to achieve net-zero emissions. While Google remains committed to minimizing its own emissions across its operations and value chain, this initiative acknowledges the critical role that carbon removal solutions must play in mitigating climate change.
Building upon its history of environmental advocacy, Google’s commitment extends beyond this specific financial pledge. The company is a proud participant in Frontier, a groundbreaking program that fosters the development of breakthrough carbon removal methods. Additionally, Google is a member of the First Movers Coalition, a global alliance of companies working together to send a strong demand signal for emerging climate technologies.
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By combining its financial muscle with its existing involvement in these crucial initiatives, Google demonstrates its unwavering commitment to accelerating the growth of the carbon removal industry. The company actively seeks to identify and scale the most promising technology-based and nature-based solutions, with the ultimate goal of creating a more sustainable future for all. Google extends an invitation to other companies to join this critical endeavor, fostering a collective effort to combat climate change.