HomeCarbon CreditsMeta to Buy Almost 7 Million Carbon Credits from Aspiration

Meta to Buy Almost 7 Million Carbon Credits from Aspiration

Tech giant Meta inked a 6.75 million carbon credits deal with a global climate finance firm Aspiration Partners to ramp up nature-based carbon removal solutions.

Meta has been investing into carbon removal initiatives as part of its goal to reach net zero emissions in 2030. That goal covers the company’s entire value chain which aligns with the Science-Based Targets initiative (SBTi) standards. 

For over a decade, Aspiration has been developing innovative carbon removal solutions to provide high-quality nature-based carbon credits for companies.

Removing 7 Million Tonnes of Carbon

Under their deal, Meta agreed to purchase in advance almost 7 million (6.75m) tonnes of CDR credits from Aspiration. The delivery of the credits will be within the 8-year period from 2027 to 2035.

The credits will be from various carbon projects managed by Aspiration involving nature-based climate solutions. These include all sorts of ecosystem restoration such as native reforestation, agroforestry, and sustainable agriculture practices. 

For Meta’s head of carbon removal program, Tracy Johns, carbon credits are one of the ways for the company to achieve its ambitious net zero goals. She particularly highlighted that:

“Through our carefully selected partnerships and projects like this carbon credit purchase with Aspiration, we aim to manage and minimize our environmental impact while accelerating our path to net zero in a responsible and scalable manner.”

Meta picked Aspiration for this particular deal because of the latter’s high standard in evaluating natural carbon removal solutions. Aspiration ensures that the carbon projects it supports are high-quality with verifiable carbon removal credits. 

To achieve that, the California-based sustainability firm requires projects to have environmental and social benefits. The company follows strict criteria for quality, legitimacy, and accountability by partnering with top-tier project developers and independent verifiers. 

At a glance, here’s Aspiration’s approach to delivering carbon credits:

Aspiration carbon credit creation
Source: Aspiration Partners

At the end of the process, the carbon removal credits created by the projects are transparent, verifiable, real, and lasting, Aspiration says. 

Strategic Deals for Bigger Climate Actions

Pointing out the importance of their strategic carbon credit partnership, Olivia Albrecht, CEO at Aspiration, remarked:

“Many of these projects wouldn’t be able to get off the ground without this type of corporate commitment, which illustrates how companies can amplify their efforts and make a more significant impact on global climate goals.”

The deal with Aspiration is just one of the many climate commitments of Meta. 

Apart from backing up nature-based carbon removal projects, Meta is also helping expand other removal capabilities globally. Last year, it collectively committed around $1 billion for developing technology-based carbon removals alongside Stripe, Shopify, McKinsey, and Google. 

Both natural and technological carbon removal solutions are crucial in meeting the world’s net zero emissions by 2050 target. The IPCC has been sure of that. But the recent intention of the United Nations hinted that they find nature-based carbon removals more favorable

In a note, the UN panel stated that technology-based carbon removals “do not contribute to sustainable development, and do not contribute to reducing the global mitigation costs.” This shocked the early rising carbon removal industry, but this has yet to be finally decided by the UN body. 

The recent partnership between Meta and Aspiration shows the scale at which companies consider nature-based carbon credits as part of their climate and sustainability roadmaps. 


Most Popular

PM Narendra Modi and Elon Musk to Announce Historic EV Deal

The world's two renowned and powerful figures PM Narendra Modi and Elon Musk will meet in India on April 22. Their camaraderie began back...

FERC Grants Waiver for Solar Project Amidst Local Resistance

The Federal Energy Regulatory Commission (FERC) has granted a waiver to PJM Interconnection LLC, allowing a 210-MW solar project in Indiana to relocate to...

America to See a Surge in Renewable Capacity in 2024

The United States is poised for a significant boost in renewable energy capacity by over 67 gigawatts (GW) in 2024, driven by policy shifts...

Sublime Systems Lands $87 Million Funding from DOE for Low-Carbon Cement

Sublime Systems, a startup pioneering a revolutionary method of producing fossil-fuel-free cement, has been chosen by the U.S. Department of Energy's Office of Clean...

What Is COP28? Key Issues to Watch Out at 2023 Climate Summit

After a record-breaking year of devastating effects of climate change, from record wildfires in Greece and Canada to floods in Libya, the United Nations...

Climate Disclosure: New Corporate Standards for a Net Zero World

As part of the world’s continued efforts to combat climate change and transition towards net zero, one important piece of the puzzle is new...

Carbon Pricing: Understanding The Economics and Trends of Fighting Climate Change

As global temperatures continue to rise, the urgency surrounding climate policies has intensified, thrusting carbon pricing into the limelight of climate discussions. The race to...

The EU Corporate Sustainability Reporting Directive (CSRD): Key Things to Know

Companies operating in the European Union will have to deal with new non-financial and sustainability reporting requirements starting January 2024 with the EU's Corporate...