A new report from the IPPC finds that around 40% of the world’s population is “highly vulnerable” to the impacts of climate change. By now, we know that people across the globe and businesses of all sizes can play an essential role in helping to mitigate the rising problem.
Glofox Habitat is our new initiative that represents a commitment to working both internally and collectively with our customers to support a more sustainable future. Our partnership with Stripe Climate is the first in this initiative, which will allow us and our customers to contribute a portion of revenues to fund innovative carbon removal technologies.
– Hannah Bebbington, Stripe Climate
“We appreciate Glofox’s ambitious commitment to the climate. Glofox is not only an early user of Stripe Climate but one of our first platforms to enable their customers to join the effort. We look forward to supporting their vast network of customers in contributing to carbon removal.”
Glofox Habitat: Enabling our customers to make an impact
69% of worldwide consumers have changed the products and services they use due to climate change concerns. Making up 80% of today’s gym-goers, Millennials and Gen Z, in particular, have demonstrated that they are willing to pay a higher price and support businesses that take an active, genuine role in addressing the present climate crisis.
We want to empower our customers to become those businesses, resonating even more with their target members as a result of choosing to make a positive impact regarding climate change.
Collectively working towards a more sustainable future
As we highlighted in a recent blog post – CO2 emissions have a detrimental impact on global warming and climate change; and the world needs to take action. As a company, we understand there are many routes to supporting a more sustainable future; we feel our collaboration with Stripe Climate is a positive place to start. We’ll be contributing a portion of our revenues to Stripe Climate, enabling our customers to do the same as they scale their fitness businesses.
What is Stripe Climate?
Stripe Climate allows any business to automatically divert a portion of its revenue on Stripe toward new carbon removal technologies. To date, over 15,000 businesses from 40 countries have joined Stripe Climate, helping to create a necessary demand for innovative technology. Stripe Climate allocates 100% of the money it collects towards projects that remove carbon dioxide from the atmosphere, primarily by purchasing the permanent removal of CO2 at a particular price per ton.
“With Stripe Climate, Glofox will be able to support their mission of building a healthier world by giving thousands of gyms and fitness studios across the globe the opportunity to contribute to high-impact climate programs in just one click.”Hannah Bebbington, Stripe Climate
Funds collected through Stripe Climate are directed towards a highly credible portfolio of new carbon removal technologies, with some of the latest including:
- 44.01 turns CO₂ into rock, harnessing the natural power of mineralization. Using clean energy, their technology injects CO₂ underground, speeding up its reaction with peridotite, an abundantly available rock, to scale permanent CO₂ storage.
- Ebb Carbon uses a proprietary electrochemical system to remove acid from the ocean and enhance its natural ability to draw down atmospheric CO₂ and store it as oceanic bicarbonate.
- Eion accelerates mineral weathering by mixing silicate rocks into soil. Their pelletized product is applied by farmers and ranchers to increase carbon in the soil, which over time, makes its way into the ocean, where it’s permanently stored as bicarbonate. Alongside their technology development, Eion is also conducting a novel soil study to improve the field’s measurement of CO₂ uptake.
- Sustaera uses renewable energy and ceramic monolith air contactors to capture CO₂ directly from the air for permanent storage underground. Their direct air capture system, powered by carbon-free electricity and built with modular components, is designed for quick manufacturing and capture at scale.
Stripe regularly consults panels of scientific experts to assess new technology and determine which organizations it will back through Stripe Climate. It then pays a premium for the services from these companies to help them scale and reduce costs. Stripe Climate also concentrates on working with solutions that do not take up significant arable land, sequester carbon for >1,000 years, are demonstrably net-negative, and will be cheap at scale.
Glofox Habitat: Making an impact
Our mission of “building a healthier world” is something we say with conviction. It’s a fundamental part of our culture and the way we work as a global, remote team. We work collaboratively, with trust, enabling us to keep working as a unified and effective ‘One Team’ to drive our mission forward.
This mission is also reflected in the thousands of fitness operators that Glofox supports on their journey to success. Glofox Habitat is our conscious effort to extend this mission beyond our people and customers to positively impact the planet as well.
“The core of our mission is to support fitness operators everywhere to help build a healthier world. We’re continuously exploring and investing in new ways to be a positive force for change, not just to drive innovation in the fitness industry but beyond that to the wider world. Our partnership with Stripe Climate is a great example of one of the ways in which we can actively do this”– Conor O’Loughlin, CEO, Glofox
Signing up is simple
The sign-up process for our customers will take just a couple of minutes and is incredibly easy to set up, making it as simple as possible to start contributing:
- Customers will get an email from Stripe inviting them to enroll in the program.
- Customers can sign up for their program by walking through a few simple steps.
- Customers can share their commitment by setting up a marketing page (an example is here) or otherwise adding to their website, etc.
There are no additional fees to enroll in the program; customers will simply follow the steps outlined and choose a recurring percentage to contribute – this amount can be updated or paused at any time. 100% of the funds will go directly towards purchasing carbon removal. Once signed up, our customers can share their climate commitment with members by using a customizable web page along with other assets for promotion, available through Stripe Climate.
Together, let’s work towards a more sustainable and healthy future.