Stripe Launches Innovative Climate Orders to Boost Carbon Removal Efforts
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- Stripe Climate now includes Climate Orders, a new product that lets businesses pre-order a specific number of carbon removal tons from Frontier’s offtake portfolio.
- Businesses can purchase carbon removal tons through the Stripe Dashboard in just a few clicks, or use the API to integrate permanent carbon removal into their own climate offering.
Stripe, a financial infrastructure platform for businesses, launched Climate Orders, which makes it easy for any business to pre-order carbon removal tons via Frontier, an advance market commitment (AMC) cofounded by Stripe.
“Climate Orders takes Frontier’s core expertise of finding, vetting, and contracting with the most promising carbon removal companies and makes it available to a much broader set of businesses. We hope this unlocks even more of the demand needed to get carbon removal to climate-relevant scale,” said Lauren Polansky, climate product manager at Stripe.
By 2050, the Intergovernmental Panel on Climate Change estimates that the world will need to remove 5–10 gigatons of CO2 from the atmosphere every year. In order to accelerate the solutions that will make it possible to meet that goal, last year Stripe, Alphabet, Shopify, Meta, and McKinsey Sustainability launched Frontier, an advance market commitment to purchase more than $1 billion of permanent carbon removal by 2030. Frontier’s in-house team of science and commercial experts, supported by 60+ external technical reviewers, sources and evaluates the most promising carbon removal technologies.
Climate Orders is part of the Stripe Climate product offering, which now includes two ways for companies to purchase Frontier-vetted carbon removal:
- Climate Orders lets businesses pre-order a specific number of carbon removal tons from Frontier’s expanding portfolio of growth-stage carbon removal companies, and receive a certificate upon delivery. It’s intended for businesses that need to buy a specific number of tons to meet a climate target or want to give their own customers a chance to purchase from Frontier’s portfolio. Businesses can pre-order carbon removal via the Stripe Dashboard in just a few clicks, or build their own climate offering using the API.
- Climate Commitments enables businesses to direct a fraction of their revenue to help the earliest-stage carbon removal companies get out of the lab and into the field. It is already used by tens of thousands of businesses across more than 40 countries. Climate Commitments is the best fit for businesses that care primarily about catalyzing the field and don’t need to buy a specific number of tons to meet a climate target.
Climate Orders is already being used by many businesses, including:
Watershed, an enterprise climate platform, that uses Climate Orders to offer customers an additional option for high-quality permanent carbon removal. “With Climate Orders in the Watershed Marketplace, we’re giving more of our customers, regardless of size or industry, access to Frontier’s leading carbon removal portfolio,” said Christian Anderson, cofounder of Watershed. “The more businesses that purchase permanent carbon removal, the faster the technologies will scale–and the faster we’ll reach our collective climate goals.“
Patch, a carbon market infrastructure platform, that uses Climate Orders to expand access to Frontier’s permanent carbon removal. “Many of our customers are taking longer term climate action by supporting nascent technologies,” said Brennan Spellacy, cofounder and CEO of Patch. “Climate Orders enables them to easily purchase from Frontier’s rigorously diligenced portfolio of carbon removal suppliers.“
Terraset, a nonprofit organization focused on carbon removal, that uses Climate Orders to allow donors to buy permanent carbon removal through Frontier. “When it comes to picking the most promising and high-quality carbon removal suppliers, Frontier is best-in-class,” said Adam Fraser, CEO of Terraset. “Climate Orders allows us to easily access the Frontier portfolio and move quickly to bring more philanthropic capital to the carbon removal field.“