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, acting through the Symbiosis Coalition, will purchase 335,000 metric tons. Tencent will buy 300,000 metric tons in its first carbon removal offtake outside of China. The 10 year contracts aim to restore 6,000 hectares using a mixed crop farming system that sequesters carbon, reduces fire risk, and provides income for local farmers. The project uses a layered canopy approach with sugar palm, timber, fruit trees, coffee, and ground crops to diversify farmer income alongside carbon revenue. Thryve says the offtake commitments provide the price certainty needed to raise financing for scaling. The Symbiosis Coalition, which includes Google, Meta, Microsoft, McKinsey, and Salesforce, has now announced three removal contracts since its 2024 launch. Tencent's participation marks its first carbon removal offtake outside China, supporting its 2030 carbon neutrality goal.
