Last updated: October 8, 2020
Please read the Climate Terms carefully as they contain terms and conditions relating to your participation in Stripe Climate. The Stripe Climate Terms (“Climate Terms”) are terms that apply to your voluntary allocations to Stripe Climate, as defined below.
When You opt-into using Stripe Climate, you expressly agree to the terms and conditions of the Climate Terms, the Stripe Services Agreement, and any updates or modifications to either of these terms made from time to time by Stripe. Terms applying to Stripe Services apply to Stripe Climate. The Climate Terms supplement the Stripe Services Agreement, which generally governs your use of Stripe Services, and is incorporated into the Climate Terms by reference. To the extent that there is a conflict between the Stripe Services Agreement and the Climate Terms related to Stripe Climate, the Climate Terms will prevail. For capitalized terms not defined in these Climate Terms, the applicable definitions are set out in the Stripe Services Agreement.
2. Stripe Climate
“Stripe Climate” is a suite of features that enables users to create and run their own corporate climate program. Stripe conducts research into Climate projects that Stripe determines deserve funding, and purchases carbon removal services. Stripe has also created Climate related branding which is available to include on your payment pages, all for no consideration. Users have an opportunity to make an impact in the carbon removal field by making voluntary contributions to Stripe Climate. Stripe Climate is currently in beta.
3. Stripe Climate Funds
You choose the amount to voluntarily allocate to Stripe Climate, either as a percentage of your revenue or a flat monthly amount (such amounts, “Stripe Climate Funds”). Stripe will allocate the entirety of such Stripe Climate Funds to advance the carbon removal field, through activities like purchasing metric tons of carbon removal or funding research and development for new carbon removal technologies.
As the goal of Stripe Climate is to help advance the field of carbon removal, many projects and companies funded will be in their early stages and their survival and/or success in addressing climate issues is not guaranteed. While all Stripe Climate Funds will be spent to advance the carbon removal field, the development timelines of many new technologies are long and the resulting impact may not be immediate, and there is always a risk of non-delivery (and non-recovery of paid funds) by the companies that Stripe purchase carbon removal from. Even if they are successful in obtaining results, Projects may take years to produce those results.
Your Climate contribution funds may not be spent immediately after being deducted from your account, but rather after Stripe has been able to identify and contribute to a project. Stripe will use reasonable efforts to fund impactful projects and when providing you with suggestions on how much to voluntarily allocate to Stripe Climate, however, it is ultimately your decision as to whether to voluntarily allocate funds to Stripe Climate and how much to voluntarily allocate. Stripe will regularly provide you with information about how funds were allocated. Because many of the projects in this field are still in early stages, carbon removal services purchased by Stripe will not qualify as carbon credits that you can use for carbon offset purposes. Stripe Climate is not offered by a charity or 501(c)(3) at this time. Stripe Climate Funds you voluntarily allocate to Stripe may not be considered charitable deductions. Stripe Climate Funds are not refundable.
Stripe will not apply Stripe Climate Funds towards its own corporate or administrative costs. Once you choose to opt-in, Stripe may deduct the elected Stripe Climate Funds from your Stripe Account balance and from your Payout Account, funds may be deducted on a per transaction basis, or aggregated over a period of time, as described in your Stripe Dashboard. You may opt out of Stripe Climate at any time.