The parent companies of Facebook and Google have teamed up for a nearly $1 billion project that they hope will fight climate change. They plan to purchase carbon capture technology when it is developed.
Meta and Alphabet joined Frontier, a subsidiary of a payment processor called Stripe, that pledges spending will eventually go into approved carbon capture projects.
Frontier is an advanced market commitment, which means that once developers create technology, they already know they will be able to sell it. This is used for many things, including new vaccines or drugs that are extremely expensive to develop, and advanced market commitment creates a safety net so companies don’t have to worry about it being profitable.
The members of Frontier have pledged to spend $925 million through 2030 on technologies that could help remove carbon dioxide from the atmosphere. As we know, carbon dioxide emissions are a large reason for the global warming emergency that we are in.
Many are focusing on shifting towards renewable energy and moving away from fossil fuels, but others argue that we need to create technology to simply take the emissions out of the air. We also need to remember that growing livestock for food creates an immense amount of emissions. 20 livestock companies produce more greenhouse gas emissions than Germany, Britain, or France. The single best thing we can do to help emissions is to stop eating animal products.
Global warming is causing the planet to warm and increasing natural disasters and extreme weather conditions. The recent IPCC report said that it’s ‘now or never’ if we want a fighting chance and stopping climate change.
According to Cnet, carbon capture technology has already removed 10,000 tons of carbon dioxide, which is far short of the billions of tons per year that the IPCC says we need to keep the planet from warming any further.
Many companies have been working towards reducing their carbon footprint and helping out with climate change, but the fight is not over! Everyone needs to take responsibility for their emissions, and we need to work towards a renewable future!
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