A new alliance for a net-zero future
As a technology company committed to making the world a better place, Way We Do are keen supporters of others who share a positive vision for the future. So, we’ve joined with Stripe Climate, a coalition of businesses from around the world who are supporting technology projects and companies that are dedicated to reducing the impacts of climate change. Stripe Climate businesses.
Way We Do has committed 1% of the revenue we collect through Stripe to “Stripe Climate” which help fund a portfolio of technologies that are working to remove CO2 from the atmosphere, permanently, on everyone’s behalf.
For humanity to reach our Net Zero by 2050 goals, we need to remove carbon already in the atmosphere, and reducethe emissions we put into it.
Planting trees and carbon sequestration are existing carbon removal solutions, and governments are putting laws in place to reduce new emissions, but this is just a start. We need to find other ways to address what is a huge global problem, and every effort counts.
The problem with current carbon removal technologies is that they are relatively unproven, which makes it difficult to attract investment in this much needed service. But proof takes time and resources. If the tech start-ups pursuing this vital work are to validate their solutions, reduce costs, and drive growth, we need to support them and invest in them now. Stripe Climate gives us the power to support the companies that are working to support our planet.
This means You
One per cent of your Way We Do subscription fees you pay to us now goes directly to Stripe Climate projects. It may seem small, but like any collective effort, it adds up to make a big difference. If and when these companies become successful as a result of our support, they’ll deliver a big Pay It Forward to the whole world, not just environmentally but economically, in the new industries and jobs they’ll generate.
Stripe Climate project showcase
What are some of the projects Stripe Climate is already funding? Here are just two examples.
Climeworks
Climeworks uses renewable geothermal energy and waste heat to capture CO2 directly from the air. It then concentrates the CO2 and stores it underground permanently using Icelandic company, Carbfix’s technology. Climeworks is already removing more than 320 tons of CO2 each year, and growing, on behalf of Stripe Climate businesses and their customers.
Charm Industrial
Charm Industrial removed 416 tons of CO2 on behalf of Stripe Climate businesses in 2021 by converting biomass into bio-oil, then storing it permanently underground.
Pitching woo: Convincing investors to join your cause
Starting a new company that’s focused on deep tech is an expensive undertaking, so capital raising is an essential part of the process to help them scale their solutions globally. It’s important to support these new companies with funding options so they survive the “innovation valley of death” and lower their costs on a per-unit basis over time.
Many start-ups and high-growth companies have been to, and participated in, pitching and demo day events. Way We Do’s own founders have reached the finalist stage in these events in Australia. But there are those more introverted thinkers, scientists and technologists who may, while brilliant at creating world-changing climate solutions, face demo days with dread. We think any and all of these people who bravely face the rigorous processes these events can demand of them deserve a standing ovation.
Stripe Climate held its inaugural demo day in May 2021, with carbon-removal start-ups presenting their technologies to a panel, and an audience of investors, prospective customers, researchers, and other budding entrepreneurs. These start-up pitches are seeking new customers and secure capital that will help them hire new talent and reach their next development and growth stages.
Demo Days: How Stripe Climate selects the companies it supports
Each year, Stripe Climate will select new carbon removal companies to add to its portfolio. Check out the recording of a Stripe Climate Demo Day in progress, showcasing six carbon removal companies who are now part of the portfolio.
Stripe Climate’s assessment criteria include looking for permanent carbon removal solutions that don’t compete with other uses of arable land, and that have a path to achieve low-cost, high-volume capacity, even if they’re expensive at the outset. Safety and compliance are also critical factors in deciding the outcome – something already close to our hearts at Way We Do as many of our customers use our platform for this purpose in particular.
Stripe Climate’s selection criteria for carbon-removal technology companies
| Category |
Now |
By 2040 |
| Permanence
Stores carbon permanently |
>1,000 years |
>1,000 years |
| Physical footprint
Takes advantage of carbon sinks less constrained by arable land |
Yes |
Yes |
| Cost
Has a path to being affordable at scale |
– |
<$100 per ton |
| Capacity
Has a path to being a meaningful part of the carbon removal solution portfolio |
– |
>0.5 gigatons per year |
| Additionality
Results in net new carbon being removed rather than taking credit for removal that would have occurred regardless |
Yes |
Yes |
| Verifiability
Uses scientifically rigorous and transparent methods for monitoring and verification |
Modeled or measured directly |
Modeled or measured directly |
| Net negative lifecycle
Results in net reduction in atmospheric CO2 |
Negativity ratio ≤1 |
Negativity ratio <1 |
| Safety & compliance
Legally compliant, responsibly and actively engaging with the public to determine and mitigate possible risks and negative externalities |
Path to high |
High |
We’d love to hear how your business is tackling climate change, and what environmental requirements you may have to meet as part of doing business with the customers you serve. Let us know at support@waywedo.com.
