The Ledger
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Shopify relies on internal standards rather than existing registry protocols
“So when we started, we began, it was, we didn't trust a credit that came out against an established protocol on a existing registry.
We reviewed everything and went through it and set ourselves a new internal standard for what we would buy.
so no, we do that …”
Shopify has purchased nearly 85,000 tons of durable carbon removal
“So we're just under 85,000 tons and that's durable carbon removal. So it doesn't include things with less than an estimated a hundred year permanence.”
Shopify received its first carbon removal deliveries from Running Tide and Climeworks
“Things have started to change in the back half of 2023 where we got our first ocean deliveries from Running Tide, and then our first DAC credit delivery from Climeworks, which is the first batch of credits we've received from them from the contract that we sig…”
Shopify has 40 carbon removal companies across multiple pathways in its portfolio
“We've got 40 companies in our portfolio now, across a multitude of pathways”
Shopify evaluates its carbon removal suppliers every six months for backups
“And so we do a health check. And we do that health check every six months. And on an annual basis, we'll identify companies that, you know, we have concerns about. And then we look at, okay, well, they're in this vertical, they're doing this technology, we pro…”