Frontier, a carbon removal buyers coalition, said on June 17 it would add US$915 million in funding commitments and include Anthropic, bringing total pledges to US$1.8 billion.

Launched in 2022 by Stripe, Alphabet, Shopify, Meta, and McKinsey Sustainability, Frontier is an advance market commitment to buy US$1 billion of permanent carbon removal by 2030.

At launch, it described itself as the largest coalition of carbon removal purchasers by funding and membership.

The new commitments will support advance purchases of carbon removal credits across ocean alkalinity enhancement, biomass-based removal, enhanced rock weathering, and direct air capture.

Scientists say carbon removal is needed alongside emissions cuts to balance residual emissions from hard-to-abate sectors, rather than replace direct cuts in fossil fuel use.

Frontier said it plans to make about 10 to 15 targeted purchases through offtake contracts lasting eight to 10 years and running through 2040, but it did not disclose how much each participating company contributed.

🔗 Source: Reuters