Shopify’s Sustainability Fund and Stripe Climate Leadership receive the C.K. Prahalad Award for Global Business Sustainability Leadership in 2022.

In September 2019, Shopify, a prominent provider of critical internet infrastructure for commerce and one of the largest corporate buyers of long-term carbon reduction, announced the opening of its Sustainability Fund.
 
“The decision to purchase carbon removal at prices well above the minimum available price as a way to kickstart the demand and spur innovation showed real foresight and courage. Shopify is truly doubling down on long-term carbon removal and the forward-thinking entrepreneurs behind it.” Said CEF’s creator, MR Rangaswami.
 
The CEF awarded two co-winners, Shopify Sustainability Fund and Stripe Climate, the C.K. Prahalad Award for 2022, in recognition of their trailblazing efforts to stimulate a market for carbon removal technologies. The prizes were presented at the CEF Annual Leadership Retreat in 2022, which drew senior executives from CEF corporate partners with a total revenues of $4 trillion.
 
“To reach our net zero climate goals, the IPCC says reducing emissions is not enough — we need to focus on removing existing carbon dioxide from the atmosphere with technologies that are science-based, verifiable, and scalable. Both Prahalad Award winners are accelerating momentum to do that, in ways that will help future-proof their businesses.” P.J. Simmons, CEF Chair, emphasized the significance of these changes, citing the Intergovernmental Panel on Climate Change’s 2022 report as an example.