Meta, the parent company of Facebook, Instagram, and WhatsApp, has entered into a long-term agreement with forest investment and management firm EFM to secure 676,000 tonnes of carbon removal credits through 2035. The agreement will support the transition of a 68,000-acre coastal temperate rainforest on Washington’s Olympic Peninsula from industrial timber production to climate-smart forest management.

EFM, a Portland-headquartered real asset manager, has expertise in natural climate solutions and sustainable forest management. With more than 200,000 acres of forestland owned or under its management and with around $490 million in assets under management and advisement, the company incorporates carbon sinks, biodiversity conservation, water protection, and rural livelihood support in its forestry investments. With climate-smart management, EFM hopes to earn revenues from carbon credits and conservation easements in addition to conventional timber products.

The Olympic Rainforest now sequesters more than 10 million tonnes of CO2, and the shift to Improved Forestry Management (IFM) will release another one million tonnes in the next 10 years. Aside from carbon sequestration, the project seeks to increase biodiversity, restore salmon habitat, and work with state and tribal agencies to increase public access and tourism.

Bettina von Hagen, EFM CEO, underscored the project's wider significance, noting its contribution to balancing high-quality timber production and wildlife conservation and climate benefits. She commended Meta for understanding the importance of forests in solving climate change and for promoting high-quality carbon projects that add long-term value to forests.

While in most carbon finance transactions credits are sold following the acquisition of ownership, EFM and Meta entered their deal together with the purchase of the property. By doing this, they eased the transaction and limited risks of changing over to climate-smart management.

The collaboration is in line with Meta's overall sustainability plan, which targets net zero emissions in its value chain by 2030. Meta is prioritizing reductions in emissions and mitigating residual emissions through carbon removal efforts. The company last year co-founded the Symbiosis Coalition together with Google, Microsoft, and Salesforce to make a commitment to buying up to 20 million tonnes of nature-based carbon removal credits. Moreover, in September 2024, Meta negotiated a deal with BTG Pactual Timberland Investment Group to buy up to 3.9 million tonnes of carbon credits based on reforestation.

Tracy Johns, Meta's Carbon Removal Lead, emphasized the firm's dedication to impactful initiatives and demonstrated EFM's impeccable record of sustainable forest management. She added that the collaboration not only aligns with climate and forestry ambitions but also delivers real-world environmental benefits for surrounding communities.