Autodesk, H&M Group, JPMorgan Chase, and Workday have joined Frontier, an initiative that aims to speed up carbon removal efforts, by committing to purchase USD100mn of carbon removal over the next eight years. The new members bring the total amount of carbon removal under Frontier's stewardship to over USD1bn. The funding will be used for future purchases of carbon removal tons via offtakes that act as binding contracts, providing a guarantee of demand and a degree of financial certainty for carbon removal start-ups. The initiative has facilitated purchases from 15 start-ups from a broad variety of CO2 removal technologies.

Source: carbonherald.com