• Meta’s largest carbon removal deal: 3.9 million credits from BTG Pactual Timberland.
• Commitment to net zero: Aiming for net zero emissions by 2030 across Meta’s value chain.
• Forestry restoration in Latin America: Over 7 million seedlings planted to generate these carbon credits.

Meta (META.O), the parent company of Facebook and Instagram, has agreed to purchase up to 3.9 million carbon offset credits from BTG Pactual’s forestry arm in Latin America by 2038. These credits are part of Meta’s ongoing efforts to meet its climate goals, including reaching net zero emissions across its entire value chain by 2030.

This deal, Meta’s largest carbon removal transaction from a single project, includes an initial purchase of 1.3 million carbon credits, with an option to acquire an additional 2.6 million credits. Each credit represents the reduction of one metric ton of carbon dioxide emissions, helping Meta offset its own greenhouse gas emissions.

Meta’s credits were generated by BTG Pactual Timberland Investment Group (TIG) through forest restoration projects in Latin America, where over 7 million seedlings have been planted. This partnership aligns with Meta’s broader sustainability strategy.

While the value of the transaction was not disclosed, recent pricing data from Allied Offsets indicates forestry carbon offsets average $4.22 per credit. At this rate, the deal could be worth up to $16 million.

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This move follows a similar transaction by Microsoft, which purchased 8 million carbon credits from BTG Pactual in June, marking the largest-ever sale of carbon credits globally.

Despite these high-profile deals, the market for carbon offsets has seen a slowdown, with companies like Nestle and Gucci reducing their purchases due to skepticism around the effectiveness of such credits in genuinely reducing emissions.