Leading Tech Firms Meta, McKinsey, Shopify, Stripe, And Alphabet Make $925 Million Investment To Fight Climate Change

It appears that the ‘Go Green’ campaign is clearly on so many tech firms’ minds as leading companies paved the way to a mega $925 million investment for carbon removal technologies.

The big names included Meta, Shopify, McKinsey, Alphabet, and Stripe who hope other big names would soon follow in their footsteps and bring a positive change to the environment.

The pledge launched by the firms is called ‘Frontier’ and it is designed to target carbon-removal technology to help eradicate pollution taking over the environment.

Moreover, the firms also hope their initial investment could potentially be fruitful for other companies in terms of making the modern technologies more cost-effective. Common examples of the initiative include buying captured carbon.

At the moment, there are already plenty of drives being set up to filter out carbon dioxide from the atmosphere. This includes further capturing it and storing it in a rock formation. But climate experts believe it is happening on a small scale and there’s a dire need for expansion. Similarly, a lot more focus needs to be made on making the technology affordable for all.

So what exactly does Frontier hope to achieve was a question on plenty of people’s minds.

Well, sources claim the campaign will not only target bringing down the exuberant costs of technology being used. But at the same time, it could generate increased demand for the initiative that will potentially link buyers who wish to put an end to harmful emissions with suppliers that are willing to go that extra mile to achieve it.

But critics believe the overall success depends on the market and which criteria are established for carbon removal. Similarly, there will need to be an authentic system in place that provides due credit to firms that delineate the paid levels of carbon dioxide removed from the environment.

For now, we’ll just have to patiently watch because there’s plenty of history surrounding countless projects that begin with enthusiasm but end up falling short of their promises.

Remember, the goal also includes sequestering carbon levels attained from the environment.

On the other hand, so many experts believe the true test for firms involved in the project lies in curbing alarming pollution levels that are so hard to prevent from heavy industries whose high emissions are threatening. These include steel production and cement manufacturing companies.

While Frontier’s ownership belongs solely to Stripe, other tech firms hope they can play a role during the initial funding stages. And that includes building upon Stripe’s relentless efforts of a clean atmosphere from the past.

Read next: The United Nations Reports Catastrophe In The Near Future If Climate Change Isn’t Curbed In The Next Three Years
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