Symbiosis Coalition seeks to identify and scale next-generation nature restoration projects with a focus on certainty of climate impact
The Symbiosis Coalition aims to facilitate an advance market commitment (AMC) of up to 20 million tons of nature-based carbon removal credits. While only a fraction of the world's total carbon removal goals, this is the first and largest AMC ever for nature-based carbon removal, equivalent in volume to the 2030 carbon removal goals of the state of California. The goal of the Coalition is to send a strong demand signal to accelerate the development of high-impact, science-based restoration projects that will advance progress on global climate goals.
Symbiosis will focus on catalyzing and scaling carbon projects that meet the highest quality bar for planet and people, integrating the most recent science and data on the climate impact of restoration while equitably involving and compensating Indigenous Peoples and local communities.
The Coalition will translate its goals into action by establishing and communicating clear quality criteria for nature-based carbon removal procurement efforts, engaging independent experts to continuously review these criteria in line with latest science and update them as needed, with the goal of creating a joint Request For Proposal (RFP) process to support Symbiosis offtake commitments, and paying the real cost necessary to enable these projects to happen.
Symbiosis will transparently share lessons learned through these efforts with the broader public, rigorously monitor and evaluate impact from projects, and continually evolve its efforts as new data, science, and lessons arise to advance public confidence in nature’s role in fighting climate change.
Read more:
https://www.businesswire.com/news/home/20240521133634/en/Google-Meta-Microsoft-and-Salesforce-pledge-to-contract-for-up-to-20M-tons-of-high-quality-nature-based-carbon-removal-credits-by-2030
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This is a great example of using business muscle for positive environmental impact. Here's to a cleaner, greener future!
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Great collaboration.This will speed up achievement of climate goals
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@rukia_ahmed_abdi And that is is what is needed to tackle climate crisis!
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This is a great initiative. This collective action can spur innovation and drive investment in high-quality natural carbon sequestration projects.
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@walter_lungayi True!if the pledge is implemented to the latter
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this is significant collaboration that will have a positive impact to the society
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This is the biggest commitment ever for this type of carbon removal, and it's a big step towards meeting climate goals. 👏
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@princess_nel_268 True! However,it must not be just another pledge without fulfilment
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Excellent collaborations that really enhance the speed at which symbiosis offtake and climate change goals are attained.
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This is great news! Such collaborations is what we need to foster sustainability and curb global climate crisis!
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@gorffly_mokua True Collaboration is power.It will speed up climate action