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Online Payment Platform Stripe Is Going To Spend $1 Million To Fight Climate Change

Online Payment Platform Stripe Is Going To Spend $1 Million To Fight Climate Change

Climate change has become a major concern and there are many multinational companies actively contributing to make our environment better. Well, Stripe is one of them.

If you don’t know what Stripe is, it is basically an American technology company that allows individuals and businesses to make and receive payments over the Internet. It is based in San Francisco, California. It allows online merchants to accept credit card payments, Apple Pay, or even Google Pay for goods and services.

The founders of this company is planning to spend a quarter of a million dollar to import a special type of sand to a remote Caribbean beach. The main component of this sand is olivine that is otherwise known as gemstone.

According to a report, “Olivine is coarsely milled and will be brought to the water’s edge so that the waves can grind it up. This will apparently help the ocean to absorb more carbon. Many people may not realize this about the August birthstone, but peridot has a unique climate change fighting ability. The gem is a magnesium iron silicate that is able to absorb carbon dioxide from the air”.

One out of four investors of this company has come up with this plan. There is another deal that will fund a new project. It is all about to put carbon into concrete in order to strengthen it.

The third deal is all about taking biomass that would normally decompose and release carbon (think almond shells) and use it to produce bio-oil for burial far underground.

The Company is spending almost $1 million dollars for these projects.

Microsoft also notices this impactful role played by Stripe. The Company said that it would invest $1 billion into carbon removal. Jennifer Crider, spokesperson of Microsoft said, “It’s terrific to see companies like Stripe making bold commitments about carbon removal”. The effect of climate change can be drastic.

According to a report published on by Johnna Crider, “The avenues chosen will probably come as a bit controversial, though, as it’s widely considered that the best bang for the buck to cut global warming emissions comes from investing in the deployment of clean energy or electric vehicles. For $1 million, much more impact can be made cutting CO2 emissions. This is still a free country, though, and people are drawn to different solutions for a variety of reasons. Also, there’s always potential to cut costs while scaling up and maturing”. This is a very important step and many people can benefit from it.

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