Shopify’s Investments: Removing Carbon Dioxide and Offset Emissions
Since 2019, Shopify has invested close to $55 million in 40 startups that have developed methods for removing carbon dioxide from the air — from direct air capture devices to spreading crushed rock on farmland for faster soil absorption. These investments are part of Shopify’s strategy to offset its emissions without buying traditional carbon offsets. According to Stacy Kauk, Shopify’s head of sustainability, these investments have removed 84,400 metric tons of CO2 so far. While this is a small amount compared to the gigatons in reductions needed, it is almost double the amount that Shopify reported in early 2023. Furthermore, the company has recently been involved in two high-profile deals that will remove an additional 254,000 metric tons of CO2.
Exclusive Access: Unlock Premium, Confidential Insights
Unlock This Exclusive Content—Subscribe Instantly!