AWARD YEAR
2023
CATEGORY
Work
GOALS
Climate Action
KEYWORDS
climate change, carbon reduction, payment processing
COUNTRY
United States of America
DESIGNED BY
Stripe
WEBSITE
https://stripe.com/climate
Stripe Climate
Direct a fraction of your revenue to help scale emerging carbon removal technologies.
How does it work?
Contribute a fraction of your company’s revenue to fund frontier carbon removal technologies right from your dashboard in just a few clicks. We direct 100% of your contribution to carbon removal. Our scientific advisors help maximize the long-term impact. Stripe buys carbon removal from the exact same projects. Let your customers know about your commitment with a new badge updated automatically on Stripe-hosted checkout, receipts, and invoices. Our asset kit makes it easy to use the badge anywhere you see fit.
Why is it needed?
It will take a global, collective effort to scale carbon removal. Stripe Climate is available to Stripe users globally.
To prevent the most catastrophic effects of climate change, we should aim to limit global average temperature increase to 1.5°C above pre-industrial levels, which corresponds to reducing global annual CO? emissions from about 40 gigatons per year as of 2018, to net zero by 2050.
To accomplish this, the world will likely need to both radically reduce the new emissions we put into the air, and remove carbon already in the atmosphere.
How does it improve life?
Early purchasers can help new carbon removal technologies get down the cost curve and up the volume curve. Experience with manufacturing learning and experience curves has shown repeatedly that deployment and scale beget improvement, a phenomenon seen across DNA sequencing, hard drive capacity, and solar panels.
This thinking shaped our initial commitment and first purchases. If a broad coalition of like-minded buyers commits substantial investment, we’re optimistic that we can shift the trajectory of the industry and increase the likelihood the world has the portfolio of solutions needed.