Kathmandu, February 12. The Chan Zuckerberg Initiative (CZI) in a philanthropic gesture has pledged $44 million to tackle climate change. The funds will be used in technologies which will work towards carbon removal.

Carbon removal is the process of removing carbon dioxide from the atmosphere. Carbon dioxide is mostly emitted through human activities and the planet is polluted much through the recent times.

The efforts shall be put in to negate the effects of global warming in earth. The Chan Zuckerberg Initiative website mentions that the organization will employ “innovative financing strategies”. It will include grants, investments, and making carbon removal purchases directly from companies.

A total of $20 million from the initiative will go to Twelve, a company that turns carbon dioxide into jet fuel and electric car parts. Another $21 million from the grant will be invested for Institute for Carbon Management (ICM) of the University of California, Los Angeles (UCLA). They will be using the funds for three carbon removal solutions.

ICM will also further develop a new method to produce portlandite – a material used in construction. It will be a carbon negative process and will help reduce 65% of carbon emissions.

Besides the aforementioned companies, CZI also awarded $10 million to Bill Gates’ Breakthrough Energy Fellows, which will work in similar sectors.