Payments is Helping Save the World

Fintechs are joining the fray to fight global warming

Photo by Li-An Lim on Unsplash

The payments industry has joined in the fight against global warming

It’s been inspiring to see the private sector drive progress against climate change: Elon Musk with Tesla and his grand plan for a multi-planetary human race, Memphis Meats and their vision for environmentally-conscious meat cultivation, SunPower and many others for their alternative energy solutions.

Initiative #1: Per-Payment Donations

The first, and main, lever for climate change impact for payments companies is enabling per-payment donations — micro donations to green organizations on a per-transaction basis.

Source image via Stripe Climate
  • Climeworks constructs manufacturing plants that remove carbon from air
  • Project Vesta plans to add a mineral called olivine into beaches. When olivine is broken down by waves, a chemical reaction occurs that captures carbon dioxide and stores it in limestone on the ocean floor.
  • Charm Industrial is converting waste into bio-fuel
Stripe believes that carbon removal is needed to achieve our target climate. Source via Stripe.

Initiative #2: Carbon Offsetting

In addition to donations, payments companies are building carbon offset programs — to ensure carbon neutrality for themselves and their customers.

Image via Shop App

Initiative #3: Green Infrastructure

Lastly, companies are moving toward running their payments infrastructure fully using renewal energy sources.

Crypto investor, product manager, and tech enthusiast. I (try to) post daily!

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