Google and McKinsey have agreed to buy 320,000 metric tons of carbon removal credits over 10 years through a silvopasture project in Brazil. The purchases form part of commitments through the Symbiosis Coalition. The coalition said the long-term purchase agreements announced on Monday will support climate technology company Working Trees in converting degraded cattle pasture into mixed-species systems. The systems will be developed across Brazil's southeastern Amazon and Cerrado regions.
The deal will help fund restoration of 8,700 hectares (21,500 acres) of degraded and semi-degraded pastureland within a broader 50,000-hectare project. The project is one of the first attempts to deploy carbon-funded silvopasture at a larger scale. Silvopasture integrates trees into cattle pastures, allowing ranching to continue while increasing carbon sequestration and reducing pressure for deforestation.
Working Trees plants rows of commercial timber and native tree species directly into existing cattle pasture, leaving space for grazing. Working Trees says the model improves cattle productivity while generating future timber revenue. Working Trees says that revenue encourages landowners to maintain the systems after carbon-credit income declines.
Symbiosis Coalition Executive Director Julia Strong said silvopasture is among the natural carbon-sequestration approaches with the most promising potential for scale. Strong said carbon finance has a role in financing silvopasture. Strong described the potential to expand to millions of hectares in this part of Brazil as an opportunity to demonstrate good practice. Strong said Working Trees had demonstrated the model through a pilot project.
Working Trees Chief Executive Leif Gonzales-Kramer said long-term purchase commitments were critical to securing investment for such projects. Gonzales-Kramer argued that silvopasture is the only way to reconcile continued global beef consumption with serious climate action.
The Symbiosis Coalition includes Alphabet's Google, Microsoft, Meta and Salesforce. The coalition focuses on long-term carbon offset contracts, with pledges for more than 20 million tons of offsets by 2030.
Brazil's nascent carbon market has attracted increased interest from investors and lenders as companies seek high-quality carbon-removal projects to meet climate goals. Technology companies are particularly interested in offsetting emissions linked to the rapid expansion of energy-intensive artificial intelligence infrastructure. However, some critics say carbon offsets allow polluters to avoid reducing emissions.
Google and McKinsey Commit to 320,000 Metric Tons of Carbon Removal via Brazil Silvopasture Project
FLASH AIShare
Summary
Google and McKinsey announced a project funding news initiative to purchase 320,000 metric tons of carbon removal credits over 10 years from a Brazil-based silvopasture project. Led by Working Trees, the project will restore 8,700 hectares of degraded land in the Amazon and Cerrado. The project announcement is part of the Symbiosis Coalition’s efforts to scale natural carbon sequestration. Coalition members include Google, Microsoft, Meta, and Salesforce, which have collectively pledged over 20 million tons of carbon offsets by 2030.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.