Shopify to spend $5 million per year “to kickstart demand in carbon removal”

Shopify to spend $5 million per year "to kickstart demand in carbon removal"

Shopify’s Sustainability Fund is pumping $5 million into projects that remove atmospheric carbon and publishing the results so other companies can follow its lead, fund director Stacy Kauk told Dezeen. Established in September last year, the fund "intentionally overpays for carbon removal, funding pilot projects and generating demand to kickstart the market and drive down future prices." The Canadian e-commerce brand is sharing its research on its website and in a free downloadable 50-page "playbook" document . Above: Stacy Kauk is director of Shopify’s Sustainability Fund. Top: Shopify has created an animation illustrating types of businesses its Sustainability Fund is backing "We wanted to share those commitments so that people can get familiar with the companies and learn about our selection process and the research that we’ve done," Kauk said. "It allows folks that don’t have an engineer or a scientist on staff doing deep dives into the technical world of carbon removal to know that these are vetted companies. It can give you the confidence to follow along." Shopify provides services including payment and shipping tools to over 1.7 million online retailers. It is committing money to climate initiatives because it’s "on a mission to be a 100-year […]

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