We’ve Never Seen a Carbon-Removal Plan Like This Before

So Stripe’s job is to be the buyer of first resort: the “demand-side signal” that a market exists for carbon removal. It is guaranteeing, in some ways, the existence of a future market for direct carbon removal.

Stripe may now have more knowledge of the carbon-removal market than any other private company. In this era of greenwashing and sustainable everything, its program, called Stripe Climate, is one of the most compelling corporate climate initiatives now running.

The new subsidy, modeled broadly on ones for renewable energy, gave developers a credit topping out at $50 for every ton of waste carbon dioxide they captured and geologically stored.