Latest news with #EFM
Business Wire
07-05-2025
- Business
- Business Wire
EFM Signs Deal With Microsoft for Purchase of Nature-Based Carbon Removals and Fund Investment
PORTLAND, Ore.--(BUSINESS WIRE)--EFM, a forest investment and management firm has finalized a multi-year offtake agreement with Microsoft alongside a fund investment that together secure Microsoft's access to up to 3 million nature-based carbon removal credits from EFM's investment platform. The deal includes an offtake agreement for the delivery of up to 700,000 credits through 2035, from a recently acquired property in Washington State's Olympic Peninsula that EFM is transitioning to climate-smart forest management. Additionally, Microsoft's Climate Innovation Fund (CIF) invested in EFM Fund IV, which aims to mobilize $300 million for climate-smart forestry across the U.S. This is CIF's first forestry investment in the United States and helps Microsoft secure future streams of up to 2.3 million additional high-quality credits with significant ecosystem and community benefits. 'Microsoft's support marks a pivotal step in accelerating support for high-quality improved forest management projects,' said Bettina von Hagen, CEO of EFM. 'Their leadership sets a strong precedent for the carbon market and reinforces the importance of natural forests as a scalable natural climate solution in the U.S. With their support, we see Fund IV growing and producing significant climate benefits alongside financial value for its investors.' 'Microsoft recognizes the important role of high-quality, nature-based solutions in meeting our Carbon Negative by 2030 goals. Our collaboration with EFM is a significant step towards unlocking the value of the latest scientific advancements in improved forest management as a carbon removal pathway. We are proud to contribute to climate-smart forest management in Microsoft's own backyard on the Olympic Peninsula,' said Brian Marrs, Senior Director of Energy & Carbon Removal at Microsoft. Scaling Impact Through EFM Fund IV EFM Fund IV's first investment, 68,000 acres in Washington State's Olympic Peninsula, exemplifies the company's FSC-certified, climate-smart strategy. The property had been industrially managed for close to a century by the prior owner. EFM's approach diversifies the revenue streams from forests to include carbon credits and conservation easements alongside revenue from conventional forest products. EFM Fund IV will initially focus on securing forest properties in the Western U.S., while also exploring other domestic markets where climate-smart management can create a competitive advantage for investors, alongside benefits for local communities. By enhancing the ability of the country's working forests to function as robust carbon sinks, the fund will support the long-term forest health and economic sustainability of these natural assets and the communities that rely on them. Raising the Bar for Improved Forest Management (IFM) Microsoft's long-term offtake agreement and investment in Fund IV will help raise the bar for Improved Forest Management (IFM) carbon projects, signaling their potential as scalable and effective climate solutions. IFM is a carbon market methodology that encompasses a suite of sustainable forestry practices aimed at increasing or maintaining forest carbon stocks and improving forest health. These practices include extending the rotation age of trees, reducing the impact of logging operations, and promoting selective harvesting. Microsoft will provide more information on its MSCDR website about its approach to IFM. By implementing these strategies, IFM projects can not only increase the carbon storage of commercial forests, but also improve biodiversity, enhance water and soil quality, and provide socio-economic benefits to local communities. Recent innovations, such as the adoption of dynamic baselines, have strengthened the integrity of IFM projects. EFM is committed to employing the best-in-class methodologies, ensuring that project baselines accurately reflect current policy and market conditions. With Microsoft's support, EFM is also adopting additional measures to further strengthen the integrity of its IFM credits. It does this by implementing a conservative approach that deliberately limits the amount of harvesting that is predicted in the baseline, or business-as-usual, scenario. About EFM EFM is an investment and management firm that acquires forests and implements climate-smart strategies in the Pacific Northwest and beyond. EFM creates value by combining timber production with revenues from carbon sequestration, conservation, recreation and biodiversity. EFM's investment management business focuses on FSC-certified forests in the US, and its advisory business focuses on cutting-edge natural climate solutions opportunities globally. The firm has two decades of experience and manages more than 200,000 forestland acres and is expanding to markets where increased funding for climate benefits and ecosystem services can create a competitive advantage and deliver value to investors, local communities and the public.
Geek Wire
07-05-2025
- Business
- Geek Wire
Microsoft protects Seattle-sized Washington forestland to help shrink its carbon footprint
Sustainability: News about the rapidly growing climate tech sector and other areas of innovation to protect our planet. SEE MORE Towering trees within a Washington state forest. (GeekWire Photo / Brent Roraback) Microsoft signed a deal to protect a swath of Washington forest that's bigger than the city of Seattle as a strategy for shrinking its carbon footprint. The partnership with EFM will support climate friendly forestry practices on 68,000 recently acquired acres on the Olympic Peninsula, which is known for its towering temperate rainforests. The deal will provide Microsoft with 700,000 carbon credits over the next decade. The software and cloud company also used its Climate Impact Fund to invest in EFM Fund IV, marking the first time that Microsoft has used its climate investment dollars to support forestry practices. The two parties did not disclose the cost of the carbon credits or the amount invested. Microsoft set a goal of becoming carbon negative by 2030, but its emissions keep rising, driven by the growing use of artificial intelligence. AI requires energy-intensive computing and the construction of data centers, increasing the Redmond, Wash.-based company's carbon impacts. The parcel on the Olympic Peninsula has been managed for industrial timber harvest for about a century. EFM, a forest management firm, incorporates sustainable strategies such as growing trees for longer before they're logged, taking steps to reduce the environmental harm of logging operations, and using selective harvesting where certain trees are felled or left standing. 'Our collaboration with EFM is a significant step towards unlocking the value of the latest scientific advancements in improved forest management as a carbon removal pathway,' said Brian Marrs, Microsoft's senior director of energy and carbon removal, in a statement. The overarching goal is to help working forests 'function as robust carbon sinks,' EFM states, that hold carbon in the soil and vegetation. Microsoft and many others working to diminish their climate harm are seeking both nature-based solutions like this agreement as well as technologies that remove planet warming carbon from the atmosphere. EFM's overall plan is to deploy $300 million with Fund IV, targeting forestland across the U.S., beginning in the West. Microsoft is a leader in carbon removal, both in purchasing removal credits and in establishing marketplaces and removal standards. The company was responsible for purchasing 80% of high-durability carbon dioxide removal credits worldwide last year, totaling 5 million metric tons, according to a report by Seattle-based Carbon Direct. Microsoft last month announced a partnership with CO280, a Vancouver, B.C.-based startup, to capture and store carbon emitted from a U.S. pulp and paper mill. The tech company is paying for the removal of 3.685 million metric tons of carbon from the mill, marking one of the largest deals of its kind.
Business Wire
28-04-2025
- Business
- Business Wire
EFM to Launch New Fund with Sojitz to Advance Climate-Smart Forestry and Carbon Solutions in the United States
PORTLAND, Ore.--(BUSINESS WIRE)--EFM, a forest investment and management firm, today announced a new joint venture with Sojitz Corporation (Sojitz), through its 100% subsidiary Sojitz Corporation of America, which will establish a forestry investment fund to generate high-integrity carbon credits and promote climate-smart forest stewardship across the United States. The new entity, EFM Sojitz Management, LLC (ESM), will manage the fund and aims to raise approximately USD 200 million, with initial participation expected from Sojitz, Fuyo General Lease Co., Ltd. and other global investors. Building on EFM's proven expertise in managing more than 200,000 acres of forestland and delivering measurable climate, community, and biodiversity outcomes, this collaboration represents a significant step forward in scaling nature-based solutions to address climate change. The fund will focus on acquiring and managing forestland in climate resilient forested regions of the United States, generating returns for investors through sustainable timber production and the development of forest-based carbon credits. 'EFM's mission is to create financial value from investments in forests alongside positive environmental and social impact,' said Bettina von Hagen, CEO of EFM. 'Partnering with Sojitz allows us to expand our climate-smart forestry model, mobilize capital at scale – including in key growth markets like Japan – and provide investors with access to high-quality carbon credits that also support biodiversity, water resources, and rural jobs.' EFM's climate-smart approach diversifies the revenue streams from forests to include carbon credits and conservation easements alongside revenue from traditional forest products. This model supports forest management practices that restore timber stocks, increase the production of high-value wood products, generate enduring climate, community, and ecological benefits—such as salmon habitat restoration, recreational access, non-timber forest products, tribal cultural use, and improved carbon sequestration. EFM has been at the forefront of innovative forest carbon market approaches, including implementation of the latest improvements for Improved Forest Management (IFM) projects that deliver high integrity carbon credits recognized for their co-benefits. The new fund will enable investors to benefit from EFM's climate-smart approach, as well as receive carbon credits generated from sustainably managed forestlands. Sojitz considers decarbonization one of the most important management issues, establishing its Energy Transformation Division in 2024 to accelerate the development of renewable energy and offset solutions. The joint venture with EFM reflects Sojitz's commitment to advancing global climate goals through collaborative, nature-based approaches. 'We are excited to work with EFM, whose deep industry knowledge and impact-driven approach align closely with our vision for a sustainable, low-carbon future,' said Koji Aonuma, General Manager of Energy Transformation Department at Sojitz. 'By combining EFM's extensive knowledge and experience with Sojitz's domestic and international business networks, built through its existing businesses, we aim to form a large-scale fund and create value in collaboration with a diverse range of investors, primarily Japanese companies.' EFM will engage a diverse group of investors, particularly from Japan and other international markets, in collaboration with Sojitz. Through this effort, the partners aim to unlock new capital flows into climate-smart forestry, drive innovation in natural climate solutions, and contribute meaningfully to global sustainability objectives. About EFM EFM is an investment and management firm that acquires forests and implements climate-smart strategies in the Pacific Northwest and beyond. EFM creates value by combining timber production with revenues from carbon sequestration, conservation, recreation and biodiversity. EFM's investment management business focuses on FSC-certified forests in the US, and its advisory business focuses on cutting-edge natural climate solutions opportunities globally. The firm has two decades of experience and manages more than 200,000 forestland acres and is expanding to markets where increased funding for climate benefits and ecosystem services can create a competitive advantage and deliver value to investors, local communities and the public. Legal Disclosure This press release does not constitute an offer to sell or the solicitation of an offer to buy securities. Any offers of the securities will be made only by means of a private offering memorandum. The securities to be issued by the fund managed by EFM Sojitz Management, LLC described above have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Yahoo
28-03-2025
- Entertainment
- Yahoo
Dramatic Pictures Emerge From Earthquake In Thailand & Myanmar As Hundreds Feared Dead
The eyes of the world's news media are trained on Thailand and Myanmar, where a devastating 7.7 magnitude earthquake has left hundreds feared dead. The United States Geological survey reported that the earthquake struck around four hours ago at a rare magnitude that is described as 'major' with the potential for 'serious damage.' More from Deadline Oscar Night Earthquake: 3.9 Temblor Rattles North Hollywood Area As Attendees Hit Post-Ceremony Parties Thai Studio Night Edge Unveils Horror Pic 'Death Dial' Starring Actress Penpak Sirikul & Sanya Kunakorn - EFM Jurassic World Immersive Attraction Unveiled In Bangkok For Q2 2025 News networks have since rushed to the scene and pictures and videos being reported by the media have set out the scale of the destruction, as 24/7 news channels quickly pivot their coverage. Reporting in depth from Myanmar has been difficult since a military junta seized power in 2021 but the BBC is reporting that hundreds are feared dead in Mandalay, Myanmar's second-largest city. Dramatic photos of the damage show hotels and large buildings in Mandalay in a crumpled heap, coming as a state of emergency is declared in six regions of Myanmar including Mandalay. The epicenter struck near Manadalay and a video posted on X and verified by the BBC shows a bridge collapsing near to a river. The Red Cross has said that electricity and network lines are down in the area, meaning it's difficult to assess the full damage. In Thailand's capital Bangkok, 70 construction workers are reported to be missing at the site of a collapsed building. In a Facebook post, the National Institute for Emergency Medicine in Thailand said around 320 workers were on the site at the time of the collapse and 20 are trapped in the lift shafts. Meanwhile, videos have been doing the rounds of water cascading from the rooftop pool of an intercontinental hotel in Bangkok, one of which can be seen below. Best of Deadline '1923' Season 2 Release Schedule: When Do New Episodes Come Out? Which Colleen Hoover Books Are Becoming Movies? 'Verity,' 'Reminders Of Him' & 'Regretting You' Will Join 'It Ends With Us' Everything We Know About Amazon's 'Verity' Movie So Far
Yahoo
28-03-2025
- Entertainment
- Yahoo
Dramatic Pictures Emerge From Earthquake In Thailand & Myanmar As Hundreds Feared Dead
The eyes of the world's news media are trained on Thailand and Myanmar, where a devastating 7.7 magnitude earthquake has left hundreds feared dead. The United States Geological survey reported that the earthquake struck around four hours ago at a rare magnitude that is described as 'major' with the potential for 'serious damage.' More from Deadline Oscar Night Earthquake: 3.9 Temblor Rattles North Hollywood Area As Attendees Hit Post-Ceremony Parties Thai Studio Night Edge Unveils Horror Pic 'Death Dial' Starring Actress Penpak Sirikul & Sanya Kunakorn - EFM Jurassic World Immersive Attraction Unveiled In Bangkok For Q2 2025 News networks have since rushed to the scene and pictures and videos being reported by the media have set out the scale of the destruction, as 24/7 news channels quickly pivot their coverage. Reporting in depth from Myanmar has been difficult since a military junta seized power in 2021 but the BBC is reporting that hundreds are feared dead in Mandalay, Myanmar's second-largest city. Dramatic photos of the damage show hotels and large buildings in Mandalay in a crumpled heap, coming as a state of emergency is declared in six regions of Myanmar including Mandalay. The epicenter struck near Manadalay and a video posted on X and verified by the BBC shows a bridge collapsing near to a river. The Red Cross has said that electricity and network lines are down in the area, meaning it's difficult to assess the full damage. In Thailand's capital Bangkok, 70 construction workers are reported to be missing at the site of a collapsed building. In a Facebook post, the National Institute for Emergency Medicine in Thailand said around 320 workers were on the site at the time of the collapse and 20 are trapped in the lift shafts. Meanwhile, videos have been doing the rounds of water cascading from the rooftop pool of an intercontinental hotel in Bangkok, one of which can be seen below. Hotel infinity pool water getting tossed around by 7.9 earthquake.#earthquake #แผ่นดินไหว #mynmar #bangkok — Gyanendra Singh (@GyanendraGabbar) March 28, 2025 Best of Deadline '1923' Season 2 Release Schedule: When Do New Episodes Come Out? Which Colleen Hoover Books Are Becoming Movies? 'Verity,' 'Reminders Of Him' & 'Regretting You' Will Join 'It Ends With Us' Everything We Know About Amazon's 'Verity' Movie So Far
