Meta announced an agreement to acquire 1.3 million nature-based carbon removal credits, with options for an additional 2.6 million credits, through a reforestation project in Brazil in partnership with BTG Pactual Timberland Investment Group, the forestry management division of Latin America’s largest investment bank.
The initiative, scheduled to last until 2038, is the largest carbon removal transaction under the Target from a single project. Although the Goal's commitment to net zero emissions across the value chain by 2030 will be largely achieved by reducing our emissions, any residual emissions will be addressed through carbon removal.
Our strategy also seeks to expand the voluntary carbon market to include high-quality projects that offer additional environmental and social benefits beyond carbon capture, as well as drive innovation in new carbon removal technologies. We aim to expand the market through long-term contracts, such as the one announced today, coupled with advanced market commitments with our partners, such as the recently announced Symbiosis Coalition, which aims to facilitate up to 20 million tonnes of nature-based carbon credits by 2030.
The agreement unveiled today is part of BTG Pactual Timberland Investment Group’s (BTG Pactual TIG) reforestation strategy for Latin America, designed to support climate change mitigation efforts and generate biodiversity benefits. Non-profit Conservation International is serving as Impact Advisor to ensure the strategy enhances biodiversity and supports inclusive and equitable community development.
“With this investment, Meta is sending a message to the rest of the private sector: a sustainable future does not have to be austere; it can be abundant. We commend Meta for its leadership, including its commitment to improving forest cover measurement, which is crucial to the integrity of the carbon market.”, said Conservation International CEO Dr. M. Sanjayan
The agreement is in line with BTG Pactual TIG’s strategy to restore degraded properties in selected regions of Latin America, initially focusing on Brazil’s Cerrado biome, one of the most biodiverse and seasonally dry ecosystems in the world. About half of the Cerrado’s land has already been converted to other uses, and the biome continues to face high rates of deforestation.
“BTG Pactual TIG and Conservation International, in their visionary collaboration, are setting a new standard for how sustainable forestry operations can restore degraded lands while providing significant economic opportunities for local communities.”, said Blair Swedeen, Global Director of Net Zero and Sustainability at Meta. “We are proud to support the bold strategy these partners have developed, which is aligned with our own goals for our net-zero emissions program and voluntary carbon markets more broadly.”, he added.
BTG Pactual TIG’s Sustainability Director and responsible for the company’s reforestation strategy, Mark Wishnie, also praised the agreement: “The diligence, thought leadership and technology that Meta brought to this transaction was extraordinary. The team has developed a clear and rigorous approach to carbon removal, and we are extremely pleased to support their ambition. Meta is one of a small group of companies that have championed an approach that will not only underpin the integrity of their own efforts, but support the development of a high-quality carbon market more broadly."
This agreement was based on a assessment of the role of carbon finance in supporting ecosystem restoration, led by leading consultancy Carbon Direct with support from Meta. Meta is also providing its technology and forest monitoring expertise to help establish a baseline of existing forest cover for BTG Pactual TIG’s reforestation strategy in Latin America. This includes the work of Goal with the World Resources Institute to map tree canopy height to 1 meter resolution, enabling the detection of individual trees on a global scale. All crown height data and AI models are free and publicly available, including those used for this agreement.
The agreement also reflects Meta’s commitment to generating social impact in the carbon removal projects it supports. In addition to creating local jobs through its investment activities, BTG Pactual TIG is supporting the training of local communities in opportunities to generate new revenues from nature-based activities.
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