Leading technology companies Google, Meta, Microsoft, and Salesforce announced on May 22, 2024 the launch of the Symbiosis Coalition. The coalition is a new advance market commitment collaboration aimed at supporting the development and growth of the nature-based carbon removal market, with a collective commitment to contract up to 20 million tons of high quality nature-based carbon removal credits.

Foley Hoag LLP advised the Symbiosis Coalition in the firm’s role as counsel to ZOMALAB, a member of the group of entities involved in launching the coalition.

“We are proud to have been involved in the launch of such a significant collaboration to advance progress on global climate goals along with our friends at ZOMALAB,” shared Mark Barnett, Co-Chair of Foley Hoag’s Energy & Climate Group. “This collaboration is a positive step forward in the market for carbon removal solutions, and we look forward to continuing to help advance creative projects like this to address the urgent challenge of climate change.”

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.

Along with Barnett, the Foley Hoag team who advised the Symbiosis Coalition included Austin Ownbey, Erica Harrington, James Montgomery, Adam Wade, and Erin Callahan.