Google, Meta, Microsoft, and Salesforce have formed a coalition to identify and scale next-generation nature restoration projects that remove carbon from the atmosphere.
The Symbiosis Coalition will function as an advance market commitment (AMC)for nature-based removal credits in the voluntary carbon market. These companies have collectively committed to contract up to 20M in nature-based carbon removal credits by 2030 that have high certainty of impact on the climate and result in equitable outcomes for the communities whose livelihoods depend on these projects.
Specifically, Symbiosis intends to serve as an independent, non-profit joint procurement vehicle for nature-based carbon removal credits guided by five quality pillars: conservative accounting, durability, social and community benefits, ecological integrity, and transparency. Members will have the opportunity to purchase carbon removal credits that count towards their pledge through a joint RFP in addition to their own efforts. The initial RFP will focus on afforestation, reforestation, and revegetation projects (ARR), inclusive of agroforestry.
“High-quality, nature-based solutions are vital to addressing climate change, and our work with the Symbiosis Coalition is a key step towards realizing our carbon negative goal by 2030 through a diversified portfolio of carbon removal. This collaboration will help build the overall market for these solutions, leading to more restoration purchases that benefit all of us. Continued investment in carbon removal is important not just to meet our goals but for the world to meet its goals,” stated Melanie Nakagawa, Chief Sustainability Officer at Microsoft.
https://www.symbiosiscoalition.org/perspectives/launch-press-release
