Carbon dioxide removal The mission of the First Movers Coalition (FMC) is to advance the most critical emerging climate technologies required for deep decarbonization of the world’s heavy-emitting sectors. To do this, FMC is building early market demand for such technologies by 2030, in order to help scale and catalyze their mainstream adoption for carbon-intensive sectors. First Movers Coalition – Carbon dioxide removal commitment FMC has set ambitious commitments for companies to purchase durable and scalable carbon dioxide removal solutions by the end of 2030. Companies joining the FMC take the following pledge: For members with ≥$5B annual revenue when joining: – Cumulative Volume Commitment: "In addition to our maximal direct emissions reduction efforts, we commit to contract for at least 50,000 tons of durable and scalable (per FMC definitions) net carbon dioxide removals by the end of 2030." – Alternative – Cumulative Spend Commitment: “In addition to our maximal direct emissions reduction efforts, as an alternative to contracting for 50,000 tons, companies joining the FMC can contract for at least $25 million of durable and scalable (per FMC definitions) net carbon dioxide removals, by the end of 2030.” For members with <$5B annual revenue when joining1: – Cumulative Volume Commitment: "In addition to our maximal direct emissions reduction efforts, we commit to contract for at least 10,000 tons of durable and scalable (per FMC definitions) net carbon dioxide removals by the end of 2030." – Alternative – Cumulative Spend Commitment: “In addition to our maximal direct emissions reduction efforts, as an alternative to contracting for 10,000 tons, companies joining the FMC can contract for at least $5 million of durable and scalable (per FMC definitions) net carbon dioxide removals, by the end of 2030.” Commitment details Carbon removal solutions that satisfy the following criteria are in-scope2: 1. Durable solutions that can demonstrably store captured carbon for a minimum of 1,000 years 2. Scalable solutions that have the potential to reach MT scale by 2030 and GT scale by 2050 The scientific community recognizes that nature-based solutions3 can play an important role in limiting climate change4, however, nature-based solutions are out of scope for the FMC’s CDR commitment given FMC’s mission to advance critical technologies expected to deliver deep emissions reductions, yet which are not available at the scale required. All carbon removal processes must account for and quantify their net CO₂ emissions removals from the atmosphere (e.g., complete a lifecycle assessment which considers the greenhouse gas (GHG) emissions incurred during transportation, sequestration (including energy use), and utilization). FMC expects members to purchase high-integrity CDR solutions that maximize decarbonization impact while minimizing negative externalities. Several frameworks5 defining credit quality are emerging, covering principles such as:

First Movers Coalition Carbon Dioxide Removal Commitment