Google, McKinsey, and Tencent have signed offtake agreements for 650,000 metric tons of nature-based carbon removal credits from Thryve.Earth's rainforest restoration project in Sulawesi, Indonesia. Google and McKinsey, through the Symbiosis Coalition, will purchase 335,000 metric tons, while Tencent will buy 300,000 metric tons in its first carbon removal offtake outside China. The 10-year contracts aim to restore 6,000 hectares using a mixed crop farming system that sequesters carbon, improves soil, and provides income for local farmers. The deals are part of the Symbiosis Coalition's advanced market commitment to contract 20 million tons of nature-based removals by 2030. Thryve says the offtake agreements provide the price certainty needed to scale the project. Tencent's purchase supports its goal of carbon neutrality across operations and value chain by 2030. The article notes this is the third removal contract from the Symbiosis Coalition, following earlier deals with Mombak in Brazil and Living Carbon in the Appalachians.
