IMPACT ORIGIN

IMPACT
ORIGIN

Shopify announces US $5 Million sustainability fund

[rt_reading_time postfix="minutes to read" postfix_singular="minute to read"]
Shopify sustainability

(Image: © Tink)

This week, the CEO of the popular online commerce platform Shopify (TSE: SHOP) announced the creation of a US$5 million annual fund to invest in breakthrough sustainability technologies. In a passionate letter to the public, Tobi Lütke wrote: “I want Shopify to be a company that sees the next century.”

The funds are earmarked for projects aimed at reducing carbon dioxide levels in our atmosphere, and those with the potential to reverse climate change.

The fund includes plans to buy $1M in sequestered Carbon annually, to neutralise Shopify’s carbon footprint in Canada, to power 100% of its global operations with renewable energy, to run its platform on data centres powered by renewable energy, and to work out of sustainable offices.

The investment portion of the funds is divided into 2 portfolios: The Frontier portfolio and the Evergreen portfolio. The Frontier portfolio is aimed at supporting groundbreaking technologies and companies that permanently remove carbon from the atmosphere, whereas the latter will fund key solutions that temporarily remove carbon or reduce carbon emissions.

Mr. Lütke also urged merchants and their customers to participate in the project by using Shopify’s sustainable packaging initiative and achieve carbon neutrality or negative carbon emissions by using the Offset by Shopify or the Arrive app.

Topics:

ADVERTISEMENT

read similar news

ADVERTISEMENT

ENJOYED this NEWS?

Consider making a small donation, so we can continue to create amazing content with our local partners. We suggest a minimum of $0.05 cents per news article, or signing up for a Membership.

LOGIN TO ACCOUNT

Already have an account? Sign In

Empower yourself by accessing information.

If you enjoyed this piece, you can access more: hundreds of news, analysis, and opinions created by experts in the technology industry.

It’s free! Unlike most digital publications, we don’t charge for our basic content; so you don’t have to pay to stay informed.

Impact Origin uses cookies to ensure you get the best experience on our website.

By using this site, you agree to our use of cookies as explained in our Privacy Policy.