Last year Shopify launched their Sustainability Fund and committed to investing at least $5M annually into fighting climate change through various projects and technologies. Shopify have now released details of how the money has been used in the very first year of the funds life.
The main areas being funded include groundbreaking technologies from companies that are aiming to reduce carbon dioxide levels in the atmosphere and key solutions that temporarily remove or reduce carbon emissions such as reforestation and other approaches that will help right now whilst permanent carbon removal technologies are being developed.
“While Shopify is investing in proven solutions that are already fighting climate change, we are placing bets on high-potential technologies at the frontier of the carbon removal industry. Our goal is to help prove, scale, and commercialize climate technology for massive impact in the long-term.”
– Tobi Lütke, CEO, Shopify
Shopify state that they have carefully selected companies with promising solutions for climate change including two pioneers of carbon removal, Carbon Engineering and Planetary Hydrogen. Their complete list of 2020 investments also includes CarbonCure, Climeworks, Charm Industrial, Indigo Ag, Nori, Soil Value Exchange, Running Tide, Puro.earth and Pachama.
Shopify are working hard to help make commerce as sustainable as possible including offering carbon neutral payment options and offsetting delivery emissions for consumers who use Shop Pay. Further investments and adaptations for a more sustainable future will continue through 2021 and the goal towards net zero emissions will continue to be at the forefront of the approach.