How Google, McKinsey and others got finance to say “yes” on nature-based carbon removals

This news is about how big companies like Google, Microsoft, Meta and others finance large-scale carbon removal projects, such as tree planting or other nature-based efforts that pull carbon out of the atmosphere. A buyers' group called Symbiosis, which includes those companies plus Meta, Salesforce, REI and Bain, has signed deals to buy more than 40 million metric tons of these carbon credits over three years. The deals lock in price and volume years in advance, even though the credits don't exist yet.

To get their own finance teams comfortable with these long-term commitments, the companies borrowed ideas from the renewable energy industry, where similar long-term contracts (called power purchase agreements) have long been used to fund new solar and wind projects before they're built. They also added contract protections, such as guaranteed minimum delivery amounts and replacement credits if a project falls short, to reduce the risk of paying for carbon removal that never happens.

This story is about corporate climate strategy and carbon markets, not home energy upgrades. It doesn't involve rebates, tax credits, or equipment choices for homeowners. It's relevant mainly as a sign of how seriously large companies are investing in long-term climate commitments, but it has no direct bearing on decisions about insulation, heat pumps, or other home improvements.