Tech companies want to capture carbon at paper mills and sewage plants
Google, Salesforce, H&M and other brands have turned to unlikely allies to help them clean up their carbon pollution: sewage treatment plants and paper mills. The companies joined an $80 million plan to take CO2 out of the atmosphere, though the strategies they’re using have yet to show whether they can have a meaningful impact on climate change.
They’re paying $32.1 million to a startup called CREW that aims to trap carbon dioxide emissions produced at wastewater treatment facilities. And $48 million will go to another startup called CO280 that retrofits pulp and paper mills with controversial carbon capture technologies. The two agreements were facilitated by a carbon removal initiative called Frontier that’s led by led by Stripe, Google, Shopify, and McKinsey Sustainability on behalf of those founding companies and other brands trying to meet their own sustainability goals.
Companies are increasingly looking for ways to try to cancel out the damage caused by their greenhouse gas emissions. They’ve funneled millions into startups building new-fangled industrial...