Five of the world’s largest big tech firms have committed $925m (£700m) to purchase captured carbon between now and 2030 – an investment that marks a milestone in the scaling up of carbon removal technologies.
Announced on April 12th, the initiative – an advance market commitment (AMC) dubbed Frontier – will see Stripe, Alphabet, Meta (formerly Facebook), Shopify, and McKinsey Sustainability uniting in a nine-year effort to accelerate the development of permanent carbon removal technologies by guaranteeing future demand.
Originally piloted for vaccine development, Frontier marks the first time the model is being applied to carbon removal at scale.
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