Philanthropy for carbon removal: Climeworks partners with Terraset

Climeworks has partnered with Terraset, a nonprofit that pools tax-deductible donations and purchases high-quality carbon removal. This partnership enables a new, impact-driven way to support Climeworks and unlocks philanthropic capital to catalyze high-quality carbon removal.

Why this partnership matters

Scaling carbon removal is critical to achieving a net-zero future. Climeworks' Direct Air Capture (DAC) technology and its portfolio of high-quality solutions are at the forefront of this effort. However, additional financial support is essential to expand these efforts and maximize their impact.

According to the ClimateWorks Funding Trends 2023 report on Philanthropy, only 2% of global philanthropy goes to climate causes. More concerning, less than 2% of that 2% is directed to carbon removal efforts. This gap represents a major opportunity.

As we prepare for Climate Week NYC 2024, it’s the opportune time to deploy philanthropy as a critical enabler of high-quality carbon removal solutions.

The partnership between Climeworks and Terraset offers a new option to contribute to this vital cause. Through a donation to Terraset, donors can support Climeworks on its mission and receive a tax-deduction while doing it. Terraset currently accepts donations from donors in the U.S., as well as via partnerships in Canada and the UK.

The CEO of Terraset, Adam Fraser says:

The U.S. philanthropic market is $499 billion annually and growing. Globally, it exceeds $800 billion and can reasonably be expected to surpass a trillion dollars in the next few years. Ignoring any trillion-dollar market in our efforts to solve the climate crisis would be a missed opportunity. Climeworks have been a leader in carbon removal since day one, and we are proud to be working with them to unlock this critical funding.

How to support this catalytic partnership

1.        Make a Donation

Through Terraset’s donation site, you can donate via credit card, PayPal, donor- advised fund or direct bank payment. Every donation, no matter the amount, contributes to scaling high-quality carbon removal and has a positive impact.

By making a donation, you will regularly receive information about the latest advancements in carbon removal technology, relevant news from Climeworks, and philanthropic opportunities and achievements from Terraset.
Donate to Terraset in support of Climeworks

2.        Share for more impact

Beyond making a donation through Terraset, donors can share about their support, and encourage others to contribute to carbon removal through philanthropic donations. 

A simple, impactful way to support carbon removal

The Climeworks x Terraset partnership is a unique opportunity for anyone looking to support climate action and carbon removal in an impactful way. With the dual benefits of supporting cutting-edge carbon removal technology and receiving tax deductions, there’s never been a better time to get involved.

About Terraset

Terraset is a 501c3 that uses philanthropic capital to catalyze the nascent carbon removal industry. Terraset pools tax-deductible donations from individuals, foundations, family offices, and donor advised funds, and makes strategic purchases of permanent, high-quality carbon removal from innovative projects and companies.

For more information about making a donation to Terraset, for donations over $100,000, to make a stock donation, or to donate in Canada or the UK, please contact Taylor Insley.

Data points and sources mentioned in this article: courtesy of Terraset.
Donations are directed to Terraset's accounts. While donors may indicate a preference for their funds to be used for the Climeworks project, the ultimate allocation of these funds is determined by Terraset's Board of Directors in alignment with Terraset's charitable purpose.

Recent milestones from Climeworks