EFM, a forest investment and management firm, has signed a long-term deal with Meta. They will provide 676,000 carbon removal credits by 2035. This agreement will transform 68,000 acres of forest on Washington’s Olympic Peninsula to “climate-smart management”, removing over one million tonnes of carbon emissions in the next ten years.
Bettina von Hagen, CEO from EFM, expressed herself by saying,
“This long-term contract enables us to manage forests for their greatest value to society—producing high-quality timber, creating diverse, healthy habitats for wildlife and recreation, and collaborating with tribes to restore salmon populations—all while significantly increasing carbon storage. We’re deeply grateful to Meta for recognizing the critical role forests play in addressing climate challenges and for sharing our vision of high-quality carbon projects that enhance the long-term value of our forests. Together, we’re ensuring these landscapes will benefit communities, sawmills, tribes, investors, home builders, and everyone who depends on the health of commercial forests for generations to come.”
Meta Backs EFM’s Climate-Smart Forest Transition
EFM is an investment and management firm. It manages over 200,000 acres of FSC-certified forests. The firm uses climate-smart strategies in the Pacific Northwest and beyond. With 20 years of experience, EFM is now expanding into new markets. These markets allow climate investments to benefit investors, communities, and the public.
This contract guarantees steady, long-term carbon revenue. It reduces financial risks for climate-smart forest management. EFM’s funds and other investors will fund this new entity.
One major investor is the Natural Capital Fund, managed by Climate Asset Management. It has raised more than $1 billion from companies and institutions. This funding supports nature and carbon projects around the globe.
Significantly, with Meta’s early support, the project got an innovative approach, which, in turn, made large-scale climate-smart forest investments easier.
A New Step for Its Climate Commitment
Tracy Johns, Carbon Removal Lead at Meta, said,
“As part of Meta’s goal to achieve net zero emissions across our value chain in 2030, we focus our strategy on understanding and reducing our emissions, and removing any remaining emissions through carbon removal credits. We support high-impact projects, and EFM’s extensive track record in sustainable management of forests made them an ideal partner and aligned with our goals. Our commitment to this project supported EFM’s efforts to take an approach to forest management that not only drives strong climate and forestry outcomes, but also provides real value and environmental services to local communities.”
Each carbon credit stands for a reduction of one metric ton of carbon dioxide emissions. This gives companies a way to offset their carbon footprint. For Meta, this step aligns with its goal to reach net-zero emissions across its entire value chain by 2030.
As per its latest sustainability report, in 2023, Meta’s net emissions equaled 7.4 million metric tons of CO2. Key commitments include:
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Cutting Scope 1 and 2 emissions by 42% by 2031. This is based on a 2021 baseline. Also, make sure most suppliers adopt science-based GHG reduction targets by 2026.
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Keeping Scope 3 emissions at or below 2021 levels by 2031.
To tackle residual emissions, Meta invests in nature-based and technological carbon removal projects. These projects help fight climate change and boost biodiversity.
The company signed a carbon offset agreement with BTG Pactual’s forestry arm, Timberland Investment Group (TIG). The deal involves buying up to 3.9 million carbon credits through 2038.
Scaling Forest Management to Slash Carbon Emissions
- Restoring and managing forests can cut over a third of global carbon emissions by 2030.
The forests in the Pacific Northwest store more carbon per acre than any other ecosystem. Improved Forest Management (IFM) offers a strong opportunity to cut greenhouse gases in the air.
IFM extends harvest cycles and protects carbon-rich areas while still allowing timber production. The big advantage is that it can be scaled quickly, with a noticeable impact within a decade.
Revitalizing the Olympic Rainforest
EFM’s FSC-certified, climate-smart management approach aligns perfectly with the region as it offers opportunities for climate action, conservation, and biodiversity.
They use the 5Rs™ strategy, i.e., Rotation, Reserves, Retention, Restoration, and Relationships.
The benefits of scaling Climate-Smart Forestry include the following:
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One Million Tonnes of Carbon Removal: Improved Forest Management (IFM) can capture more than 10 million tonnes of CO₂. It could also remove more than one million tonnes of carbon in the next decade.
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Sustainable Timber Growth: EFM plans to almost double timber stocks in 15 years. This will improve forest health and boost long-term timber production.
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Conservation on a Large Scale: This acquisition supports big conservation efforts. It creates a 150-mile corridor from Hood Canal to the Olympic Marine Sanctuary. This impacts 5 million acres.
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Boosting Biodiversity: Conservation will support endangered species and aid in wild salmon restoration.
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Tribal Collaboration: This project allows you to work with the Quileute and Hoh tribes. You’ll focus on wildlife, restoration, and cultural harvesting.
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Public Access and Tourism: EFM will improve access to national parks. They will link up with trails such as the Olympic Discovery Trail and the Pacific Northwest National Scenic Trail.
Most importantly, EFM’s years of experience in forest carbon projects ensure that buyers get quality credits. It uses ACR’s dynamic baseline method. This helps prevent over-crediting carbon credits.
Martin Berg, Chief Executive Officer of Climate Asset Management, commented,
“When we set up Climate Asset Management four years ago, it was very much with a pioneering spirit, to become a world leader in natural capital investing. So, it is particularly pleasing to have worked with EFM and Meta in completing the acquisition of Olympic Rainforest, with its innovative long-term contract, on behalf of the investors in our Natural Capital Fund. We remain committed to supporting bold and scalable nature-based investments to secure a more climate-resilient, nature-positive and inclusive world.”