Tech Giants Google, Meta, Microsoft, and Salesforce Launch 20 Million Ton Nature-Based Carbon Removal Buyers Coalition

Tech giants Google, Meta, Microsoft, and Salesforce have launched the Symbiosis Coalition, a new advance market commitment (AMC) collaboration aimed at supporting the development and growth of the nature-based carbon removal market. The coalition has committed to collectively contract up to 20 million tons of nature-based carbon removal credits, with the goal of sending a strong demand signal to enable the development of high-impact, science-based restoration projects that will advance progress on global climate goals. The coalition acknowledges the barriers to scaling up nature-based carbon removal solutions, including challenges related to engaging Indigenous Peoples and local communities, and balancing carbon sequestration benefits with other environmental co-benefits. To overcome these challenges, the coalition will be guided by “quality pillars” to inform criteria for procuring nature-based projects, such as conservative accounting, durability, social and community benefits, ecological integrity, and transparency. The coalition plans to provide members with opportunities to purchase nature-based carbon removal credits through a joint request for proposal (RFP), and hopes to expand its membership to other companies while sharing lessons learned to advance the confidence in nature-based solutions to address climate change. Resources: https://www.esgtoday.com/tech-giants-google-meta-microsoft-and-salesforce-launch-20-million-ton-nature-based-carbon-removal-buyers-coalition/