The Symbiosis Coalition, a groundbreaking initiative by Google, Meta, Microsoft, and Salesforce, has launched its inaugural Request for Proposals (RFP) focused on reforestation and agroforestry projects.
This significant step marks a crucial milestone in the Coalition‘s mission to secure up to 20 million metric tons of high-quality nature-based carbon removal credits by 2030. By addressing critical market challenges, this RFP aims to catalyze the growth of these vital projects.
Symbiosis was established to address these challenges by fostering demand for scientifically rigorous restoration practices, facilitating agreements between buyers and suppliers, and ultimately enabling more impactful projects to thrive.
Key Objectives of the RFP:
- Clarify Buyer Expectations: This initial RFP will serve as a crucial learning experience, demonstrating how the Coalition’s quality criteria translate into real-world projects. By openly sharing insights from the RFP process, including guidance, signed offtake agreements, and valuable lessons learned, the Coalition aims to enhance transparency and build trust within the carbon market.
- Facilitate Project Financing: The RFP will actively support project developers by assisting them in securing bankable offtake agreements with Coalition members. Furthermore, the Coalition will facilitate connections between developers and investors, providing crucial access to financing for project implementation.
- Stimulate Market Growth: By actively pursuing its volume commitment and openly sharing its findings, the Coalition aims to inspire greater confidence among investors and encourage broader participation from both project developers and carbon buyers.
This RFP reflects extensive collaboration with a diverse range of stakeholders, including developers, experts, scientists, buyers, NGOs, investors, and standards bodies.
The selection process prioritizes accessibility for developers while maintaining rigorous standards for project quality. Key considerations include scalability, environmental and social impact, and local leadership.
To ensure a robust and efficient evaluation process, the Symbiosis Coalition has partnered with leading service providers.
Pachama will oversee application intake and initial screening, leveraging advanced digital tools to assess land eligibility, leakage risk, and baseline conditions.
Carbon Direct and Xilva will conduct in-depth project diligence and evaluation, including on-the-ground assessments and risk mitigation.
This collaborative approach leverages the expertise of all partners, staff, and members to uphold the highest standards of project quality.
Read more: Google Invests In Its First Forestry-Based Carbon Removal Credits
