At Phare, we contribute 5% of our revenue to carbon removal
Removing CO₂ from the atmosphere is critical to counteract climate change, but it needs to catch up. A fraction of every purchase from Phare helps new carbon removal technologies scale.
Why we contribute
At Phare, we believe businesses can play a critically important role in helping fight climate change. We’re proud to fund next-generation carbon removal.
Phare is part of Stripe Climate, a coalition of businesses accelerating carbon removal
No company can stop climate change by itself. Stripe Climate aggregates funds from forward-thinking businesses around the world to increase demand for carbon removal.
We support a portfolio of emerging technologies that remove CO₂ from the atmosphere
Stripe Climate works with a multidisciplinary group of scientific experts to find and evaluate the most promising carbon removal technologies. Below are two examples from our broader portfolio.
Climeworks uses renewable geothermal energy and waste heat to capture CO₂ directly from the air, concentrate it, and permanently sequester it underground in basaltic rock formations with Carbfix. Climeworks will remove 322 tons of CO₂ on behalf of Stripe Climate businesses.
Charm Industrial has created a novel carbon removal pathway that converts biomass into bio-oil and then injects it deep underground for permanent geologic storage. Stripe Climate was Charm’s first customer. In 2021, Charm removed 416 tons of CO₂ on behalf of Stripe Climate businesses.
Why it works
Early customers can help new technologies get down the cost curve and scale up
Most new technology is expensive at first. Early adopters such as Phare help promising new carbon removal technologies lower their costs and scale up quickly.