Shopify committed more to climate technologies in 2024 than ever before

Shopify continues to push forward on its mission to kickstart technologies that can help reverse climate change. We support entrepreneurs working on game-changing projects, giving them the backing and confidence they need to continue building. And 2024—the warmest year on record—represented our biggest investment yet.

Some of the year’s highlights include:

• Shopify signed $36.3 million in carbon removal purchase agreements with 23 promising companies including Terradot, CO280, and Alt Carbon, bringing our grand total to $83.9 million across 51 companies.
• Through Shopify’s Planet app, our merchants generated 23.6 million carbon neutral orders, addressing over 15,000 tonnes of shipping emissions with carbon removal.
• We launched Carbon Commerce allowing climate entrepreneurs to sell and manage carbon credits with Shopify. It’s been adopted by some great companies including Graphyte, Mast Reforestation and Octavia Carbon.

We're sowing the seeds for large-scale carbon removal and we’re already seeing plenty of progress. 

Vaulted, a company we’re supporting with $6.4 million in purchases, has delivered 12,000 tonnes of carbon removal since 2023. Planetary generated the first ocean alkalinity enhancement credits in 2024. Shopify was their first customer. Also supported by Shopify, Heirloom successfully raised a $150 million Series B financing round.

Thanks for the shoutout, @NYSE! Last week, @VaultedDeep got some screentime on NYSE's floor celebrating our first 5,000 tons of carbon permanently removed. We're grateful for NYSE's support as we lead the industry in high-quality and verifiable CDR delivery. pic.twitter.com/RqTwkUpFd5

— Vaulted Deep (@VaultedDeep) October 11, 2024

2025 needs to be even bigger

In 2025 we need to see buyers, financers, and governments expand their involvement in the carbon removal space.

Before now, technology development was the bottleneck. But as more and more companies prove their technology works, a lack of commercial support could be the reason they don’t scale. This would be a catastrophic outcome for the planet.

That’s why we made a number of carbon removal purchases to wrap up 2024, including:

• Enhanced rock weathering: Mati (India)
• Biochar: Applied Carbon (US), BIOSORRA (Kenya), MASH Makes (India), Planboo (Global)
• Ocean alkalinity enhancement: Planetary (Canada)

Shopify’s own commitment to reversing climate change remains strong as we head into 2025. We’ll continue to put our funding behind some of the most cutting-edge technologies built by groundbreaking entrepreneurs.