First Movers Coalition Carbon Dioxide Removal Commitment

- Solutions must minimize environmental harm, including deforestation, over-consumption of natural resources and land, and continued reliance on fossil fuel energy. - Solutions must minimize social harm, including adverse impacts to local ecologies, indigenous communities, and marginalized groups, while equitably distributing social benefits including jobs, investment, and financial benefits across communities and landowners. - Solutions must adhere to credible, science-based measurement, reporting, and verification (MRV) methodology and avoid double counting. - Solutions must ensure additionality by demonstrating that carbon removal would not occur without the project and delivers measurable new benefits. - Biomass based solutions must not promote monoculture and/or use arable land and native biomass. Disclaimers Voluntary commitments made by members of the First Movers Coalition are subject to the availability of material(s), fuel(s), service(s) supply and regulatory approvals. Members acknowledge that procuring the material(s), fuel(s), or service(s) needed to meet these commitments may come at a premium cost. Commitment design process The original carbon dioxide removals commitment was first introduced in 2022. Through the biennial Commitment Review process, the original commitment was revised in 2024. 1 Members with <$5B annual revenue may opt to commit to the more ambitious volume / spend levels required for members with ≥$5B annual revenue when joining. 2 Solutions with a high likelihood of meeting the FMC criteria include direct air carbon capture and storage (DACCS) with direct CO₂ injection and bioenergy with carbon capture and storage (BECCS) with direct CO₂ injection. Other solutions may be used to meet the FMC commitment if they meet the durability and scalability requirements above. 3 Nature-based solutions are, “actions to protect, sustainably manage, and restore natural or modified ecosystems, that address societal challenges effectively and adaptively, simultaneously providing human well-being and biodiversity benefits” (IUCN) 4 International Energy Agency (IEA) notes that, “commensurate action on AFOLU [agriculture, forestry, and other land use], would help limit climate change” (pg. 92) and recognizes that nature-based solutions are one way of removing CO2 from the atmosphere (IEA); Intergovernmental Panel on Climate Change (IPCC) notes that, “nature based solutions generally benefit[s] biodiversity and support[s] its role in both climate mitigation and adaptation” (IPCC ARG WGII Full Report pg. 163) 5 Examples of these frameworks include: the EU Carbon Removal Certification Framework (EU CRCF), Article 6.4 of the Paris Agreement, and the ICVCM’s Core Carbon Principles. – among others