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Meta, the company behind Instagram, Facebook, and WhatsApp, is undoubtedly powerful. Now, $35 million of that power will be put toward a cleaner, safer planet through a Department of Energy program, according to ESG Dive.
The investment will support projects that remove planet-warming, polluting gases — namely carbon — from the atmosphere in natural ways, like planting trees or adjusting farming practices. Technology-based solutions for other industries are also included, ESG Dive reported.
Meta’s sum is the same as what the DOE itself put on the table after it launched the carbon removal purchase program in March. The goal of the initiative is to incentivize bigger companies to commit funds to help balance out the amount they pollute. Google was the first to raise its hand to participate, putting down a $35 million investment of its own, ESG Dive reported.
For Meta, the purchase is a step toward its goal of removing as much pollution as it creates by 2030. Curbing its polluting practices directly is the most effective way to reach that goal, but programs like the DOE’s can be a big help in closing the gap, the outlet explained.
Globally speaking, these initiatives that remove harmful gases like carbon from the atmosphere — or suck it up on Earth in innovative ways — are a huge piece of the puzzle in reaching mid-century environmental targets. Commitments like Meta’s are signs of progress, yet a large investment around the world is still needed, according to a report by McKinsey & Company.
Still, actions like these from the world’s most powerful companies can accelerate positive change. Other major tech players like Microsoft and Salesforce are taking a similar route as Meta and Google. Under an agreement called the Symbiosis Coalition, the four companies have committed to removing up to 20 million tons of carbon by 2030, ESG Dive reported.
“We hope our pledge will encourage others to make similar pledges, ultimately helping to scale the market and reduce the cost of carbon removal technologies,” Meta said in a press release.
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