IPCC models project that achieving net zero emissions by 2050 will require both radical emissions reductions and the permanent removal of gigatons of carbon from the atmosphere every year.

”To prevent the most catastrophic effects of climate change, we should aim to limit global average temperature increase to 1.5°C above pre-industrial levels, which corresponds to reducing global annual CO₂ emissions from about 40 gigatons per year as of 2018, to net zero by 2050. To accomplish this, the world will likely need to both radically reduce the new emissions we put into the air, and remove carbon already in the atmosphere”, it says on the Stripe Climate website.

At the end of 2021, more than 15,000 companies across 40 countries have joined Stripe's efforts, helping provide a critical demand signal for new technologies.

Stripe works with a multidisciplinary group of top scientific experts that help them find and evaluate the most promising carbon removal technologies.

According to Fast Company, one of the startups working with Stripe Climate is Charm Industries. In May 2021, Charm completed Stripe’s first order of 416 tons of CO2 removal, at $600 a ton.

In September, Climeworks, another startup working with Stripe Climate, opened its first commercial direct-air-capture plant in Iceland, which pulls CO2 from the air and then injects it underground, where it turns into stone—staying permanently out of the atmosphere.