As per ESG Today, Salesforce's new carbon removal pledge follows the company's commitment back in 2022 to invest 100 million USD in CO2 removal projects. Frontier is a project developed by companies Alphabet, McKinsey, Meta, Shopify and Stripe have put together a fund of 925 million USD for the development of technologies that can pull carbon dioxide from the atmosphere. The group of companies said that the funds will be available until 2030 “to purchase permanent carbon removal from suppliers building promising new solutions.”
Salesforce officials say that their 25 million USD purchase from Frontier will be dedicated to solutions that can store carbon emissions for over 1.000 years.
Nan Ransohoff, Head of Frontier, said that "demand is a critical part of getting carbon removal to climate-relevant scale... Salesforce is turning commitments into contracts, helping the next generation of carbon removal technologies get to commercial scale."
At the same time, Salesforce's virtual power purchase agreement (VPPA) was signed with Qualitas Energy and will carry over 15 years. This will enable the energy company to expand its renewable energy capacity by 27 megawatts, saving over 21.500 tons of CO2 emissions every year in the process.
Suzanne DiBianca, EVP and Chief Impact Officer, Salesforce, said that a climate transition plan is essential for companies that want to lower their negative impact on the planet. She added that "for us, this means investing in and scaling new climate technologies, securing clean energy access in underserved regions of the world, and aligning our corporate philanthropy strategy to ensure no one is left behind."
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