Founding buyers in NextGen will include Boston Consulting Group, LGT, Mitsui O.S.K. Lines, Swiss Re, and UBS. The establishment of NextGen follows last year's announcement by South Pole, recently approved as an Implementing Partner of the First Movers Coalition (FMC), and its development was strongly influenced by the Carbon Removal Climate Action Group of the World Economic Forum Alliance of CEO Climate Leaders. The FMC, a partnership between the U.S. State Department's U.S. Special Presidential Envoy for Climate and the World Economic Forum, is an ambitious alliance of companies harnessing their purchasing power to create early markets for innovative climate technologies.