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Illustration: Rebecca Zisser/Axios

The payment tech company Stripe is funding four carbon dioxide removal projects as part of its plan announced last year, which advocates had called a pioneering corporate foray into these nascent markets.

Why it matters: Pulling CO2 out of the atmosphere — not only cutting new emissions — will be an important tool for limiting global temperature rise, a major UN-led scientific report concluded in late 2018.

Driving the news: Stripe unveiled Monday the first negative emissions purchase deals in its $1 million annual commitment. They're working with...

  • The Swiss direct air capture company Climeworks.
  • Project Vesta, a California nonprofit seeking to testing use of a mineral called olivine at beaches to capture CO2 (Reuters has more here).
  • The Canadian firm CarbonCure, which "sequesters CO2 in concrete by mineralizing it into calcium carbonate."
  • Another California entity, Charm Industrial, which is testing a process for "preparing and injecting bio-oil into geologic storage."

What they're saying: "This is really important to show that companies can take actions to advance carbon removal fairly quickly after making commitments to do so," Noah Deich, executive director of the group Carbon180, tells me.

  • "The biggest new entrant into the space is Microsoft which has pledged to remove their entire cumulative historical carbon footprint. But Stripe is still first in putting a strategy into practice," he says.

The big picture: Some of it is quite expensive. The projects range from $75–$775 per ton of CO2 removed.

  • Stripe's discussion of the Climeworks project — which has the highest per-ton removal cost — notes that one goal is to be among the early movers that helps drive costs much lower.

Go deeper: Scientists say major push for CO2 removal needed

Go deeper

Amy Harder, author of Generate
Aug 20, 2020 - Energy & Environment

Joe Biden unlikely to push carbon tax as part of climate change plan

Illustration: Eniola Odetunde/Axios

Joe Biden is unlikely to pursue a carbon tax if he wins in November, according to several people familiar with his campaign's thinking.

Driving the news: The campaign said last year it supported a price on carbon emissions, but it has since released policies that embody government mandates, investments and job creation amid the pandemic-induced recession.

Updated 1 hour ago - Politics & Policy

Omicron dashboard

Illustration: Shoshana Gordon/Axios

  1. Health: CDC director says number of U.S. Omicron cases "likely to rise" — Two years of COVID-19 — Prior coronavirus infections may not protect well against Omicron.
  2. Vaccines: Data demonstrates most-vaccinated counties less vulnerable to worst of COVID — Omicron adds urgency to vaccinating world — Omicron fuels the case for COVID boosters.
  3. Politics: Nevada to impose insurance surcharge on unvaccinated state workers — New Jersey GOP lawmakers defy statehouse COVID policy — Oklahoma sues Biden administration over Pentagon vaccine mandate.
  4. World: Vaccine mandates lose steam in the U.S. while Europe doubles downWHO: Delta health measures help fight Omicron — COVID cases surge in South Africa in sign Omicron wave is coming.
  5. Variant tracker: Where different strains are spreading.

Vulnerable Democrats: Less Trump talk

Illustration: Aïda Amer/Axios

Vulnerable House Democrats are convinced they need to talk less about the man who helped them get elected: President Trump.

Why it matters: Democrats are privately concerned nationalizing the 2022 mid-terms with emotionally-charged issues — from Critical Race Theory to Donald Trump's role in the Jan. 6 insurrection — will hamstring their ability to sell the local benefits of President Biden's Build Back Better agenda.

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