In a time when focusing on sustainability is essential for businesses, Stripe has introduced Stripe Climate – a new initiative to raise funds for emerging carbon removal technologies.
What is Stripe Climate?
With Stripe Climate, you can donate a percentage of your revenue to help grow emerging carbon removal technologies, which will help tackle climate change.
As a Stripe customer, opting in will allow you to have some of your funds automatically dedicated to these projects, with 100% of your contribution being directed to carbon removal. Stripe allocates contributions towards projects that remove carbon dioxide from the atmosphere by purchasing the permanent removal of CO2 at a particular price per ton.
Why Tackle Climate Change?
Carbon emissions are higher than ever, but Stripe Climate is aiming to limit the global average temperature increase to 1.5°C, with the goal for net zero emissions by 2050.
Although there are a number of solutions on the market for reforestation and soil carbon sequestration, new carbon technologies are the key to scaling, with new technologies needing to be developed to do so. Working with Frontier, Stripe’s experts are making carbon removal purchases and collaborating together to tackle climate change.
Benefits of Stripe Climate
Of course, the major benefit of signing up to this is that you can do your bit to help projects that are actively working on reducing carbon emissions in the atmosphere, helping to tackle the climate crisis.
In addition to this, you can shout about your commitment, with a badge to proudly showcase on your website, Stripe checkout, receipts and invoices.
Ballyhoo Stripe Climate
Here at Ballyhoo, we’ve signed up to Stripe Climate. This will apply to any client invoices paid online via Xero, but will not affect the amount paid by clients.
Stripe Climate is now available for all global businesses. If you are a Ballyhoo client and need help setting this up, or are a new business needing help with Stripe, contact us now to get started.
We are continuing to contribute to Stripe Climate, which has helped new carbon removal companies make significant progress. Stripe Climate have recently purchased their largest round of carbon removal to date, consisting of nine new companies who focus on areas such as:
- Converting biomass waste to products
- Using mining waste to convert CO₂ into carbonate rocks
- Using an electrochemical process to separate acid and base from seawater
- Testing the feasibility of removing carbon by burying waste woody biomass underground
- Integrating carbon removal into a new process that produces clean fertiliser