Energy Markets
Google-backed consortium to scale up ocean and rock carbon removal
An executive revealed that a coalition of Google, Stripe, and Shopify would spend $1.7m to purchase carbon removal credits for three early-stage firms. This will help the tech giants scale up the nascent market. To meet climate goals by the mid-century, the world will need to remove between 5 and 10 billion tonnes of carbon dioxide per year from the atmosphere. However, most of the technologies available today are of a small scale. Frontier is a coalition that includes Meta, H&M Group JPMorgan Chase, Salesforce and others. The group will spend $1.7million to purchase credits from Karbonetiq in the U.S.,...