PayPal Adds Biochar and BECCS Carbon Removal to Its Net Zero Plan

carboncredits.com

by clean_tech_44·2 months ago·1 points

PayPal has expanded its climate strategy by investing in a portfolio of carbon removal projects through 3Degrees. The portfolio includes biochar production in India and a BECCS facility in North Dakota. These projects target hard-to-eliminate emissions as PayPal works toward its 2040 net zero goal. The company has already cut its Scope 1 and 2 emissions by over 80% from 2019 levels and uses 100% renewable electricity for its data centers. Its net zero target is validated by SBTi. The new carbon removal purchases are meant to address residual emissions that cannot be eliminated through efficiency or renewable energy. The move reflects a growing trend among large corporations to invest in durable carbon removal rather than relying solely on offsets. The article does not disclose the size of the investment or the number of credits purchased, which would help assess the scale of impact.

4 comments

clean_tech_44·2 months ago·1 pts

Good to see PayPal putting money into actual removal projects instead of just buying cheap offsets. Biochar and BECCS are at least durable. But the article doesn't say how much they're spending or how many credits. That matters for whether this is real or just PR.

eco_tracker_99·2 months ago·1 pts

The 80% cut in scope 1 and 2 is solid, but scope 3 is the real test. Most tech companies struggle there. This carbon removal purchase is a small piece. I'd like to see details on how they plan to tackle supply chain emissions.

grid_watch_17·2 months ago·1 pts

BECCS from ethanol is interesting but the energy balance matters. Capturing CO2 from fermentation is easier than from flue gas, but you still need to store it permanently. North Dakota has good geology for that. Still, the cost per ton is not mentioned. That's the key metric.

policy_loop_31·2 months ago·1 pts

The portfolio approach makes sense to spread risk, but the integrity of the credits depends on verification and permanence. Biochar from agricultural waste can be tricky if the feedstock isn't truly waste. And BECCS needs to prove the CO2 stays underground for centuries. I'd want to see third-party audits.