Google announced a $35 million commitment to match the U.S. Department of Energy’s Carbon Dioxide Removal Purchase program, aiming to promote innovation in carbon removal technologies and strengthen public-private collaboration in this important area of focus in addressing climate change.
Google plans to use its own projects to purchase at least $35 million worth of carbon removal credits in the next year. This financial commitment emphasizes Google’s belief in the necessity of a public-private partnership model to speed up the commercialization of promising carbon removal solutions. By teaming up with the DOE, Google aims to create a stronger and more sustainable market for these technologies.
The recent report from the Intergovernmental Panel on Climate Change (IPCC) acts as a reminder of the varied approach required to achieve net-zero emissions. While Google is dedicated to reducing its own emissions throughout its operations and value chain, this initiative recognizes the crucial role that carbon removal solutions must play in addressing climate change.
Expanding on its history of environmental support, Google’s commitment goes beyond the financial pledge. The company is involved in Frontier, a pioneering program that encourages the advancement of carbon removal methods. In addition, Google is part of the First Movers Coalition, a global group of companies collaborating to signal strong demand for emerging climate technologies.
By combining its financial resources with its existing engagement in these vital initiatives, Google shows its steadfast dedication to accelerating the growth of the carbon removal industry. The company actively aims to identify and expand the most promising technology-based and nature-based solutions with the ultimate objective of creating a more sustainable future for all. Google invites other companies to join in this important effort to address climate change.
