Social media giant Meta has signed a long-term contract to purchase 1.3 million nature-based carbon removal credits, with an option for delivery of an additional 2.6 million credits, through 2038, from BTG Pactual Timberland Investment Group (BTG Pactual TIG).

The deal is one of the largest of its kind, and part of BTG Pactual TIG’s $1 billion Latin America reforestation strategy, which is designed to support climate change mitigation alongside benefits for biodiversity and communities. The contract also marks Meta’s first significant engagement in carbon removal in Brazil.

The transaction is part of Meta’s commitment to reach net zero emissions across its value chain in 2030, which will largely be achieved by reducing corporate emissions. The company’s strategy includes addressing residual emissions through carbon removal, including a range of both natural and technological approaches. Forest-based carbon removal and the use of technology to better monitor, report, and verify the carbon sequestration is an essential component of Meta’s carbon removal strategy.

Meta is making its forest monitoring technology available to help establish a rigorous baseline of existing forest cover for BTG Pactual TIG’s Latin America reforestation strategy. This includes Meta’s work with World Resources Institute to map tree canopy height at a 1-meter resolution, allowing the detection of single trees at a global scale. All canopy height data and AI models are free and publicly available, including those used for this deal.

Blair Swedeen, Global Head of Net Zero and Sustainability at Meta, said:

“BTG Pactual TIG and Conservation International, in their visionary collaboration, are setting a new bar for how sustainable forestry operations can deliver restoration of degraded land, while providing important economic opportunities for local communities. We are proud to support the bold impact strategy that TIG and CI have developed, which aligns with our own goals for our net zero program and for carbon markets broadly.”

BTG Pactual TIG’s strategy focuses on the conservation, restoration, and planting of deforested and degraded properties in selected regions in Latin America. The strategy also focuses on delivering community benefits through increased rural employment, rural community development, and the development of the bioeconomy. Conservation International serves as impact adviser for BTG Pactual TIG.

With Conservation International’s support, BTG Pactual TIG’s strategy aims to protect and restore approximately 135,000 hectares (more than 330,000 acres) of natural forests in deforested landscapes. To date, BTG Pactual TIG has invested in 37,000 hectares, planted more than 7 million seedlings, and initiated restoration of approximately 2,600 hectares of natural forest. The company has contracts with several large multinationals, including Microsoft.

Mark Wishnie, Chief Sustainability Officer of BTG Pactual TIG and head of the firm’s reforestation strategy, said:

“The due diligence, thought leadership and technology that Meta has brought to this transaction has been extraordinary. The team has developed a clear and rigorous approach to carbon removal, and we are extremely pleased to help support their ambition on this front. Meta is among a small group of companies that have pressed forward to develop an approach that will not only underpin the integrity of its own efforts, but support the development of a high-quality carbon market more broadly.”