Portland, Ore., July 15th, 2020 — EFM is pleased to announce that Nike will purchase carbon offsets from two of its forestry projects in Oregon to offset emissions associated with the shipments from Nike.com
On average, EFM’s climate-smart strategies can enable forests to absorb 30% more carbon from the atmosphere than business as usual approaches. When managed responsibly, forests in Pacific Northwest have the potential to store more carbon per acre than any other terrestrial ecosystem. In addition to restoring and protecting these working forests, this commitment from Nike will help EFM preserve recreational public access, protect drinking water and biodiversity and support rural economies. EFM’s forest management approach goes above and beyond regulatory requirements and is guided by the standards of the Forest Stewardship Council (FSC). Our forest carbon project has also been validated and verified to Verra’s VCS standard by accredited third party auditors.
In 2019, Nike made a bold, voluntary commitment to target a 30% reduction in reduce carbon emissions across its global supply chain by 2030, in line with the Paris Agreement of 2015. This project will contribute towards Nike’s journey to zero carbon and zero waste by offsetting the carbon emissions produced by shipping Nike.com orders.
“At Nike, we’re deeply committed to creating more sustainable practices across every part of our company, including our supply chain. Through our partnership with EFM, we hope to elevate the critical importance of Pacific Northwest forests in reducing global emissions and highlight the potential that climate-smart forestry has to contribute to mitigating climate change in a meaningful way,” said Bert Stevens, Vice President, Nike North America Supply Chain.
Carbon offsets from this project originate from two properties comprising ~28,000 acres of forestland managed by EFM and located in Oregon. In addition to addressing climate-change via enhanced carbon sequestration, the first project located on the coast, supports clean drinking water, protects important habitat for threatened coastal coho salmon and potential habitat for the endangered marbled murrelet, a pelagic seabird, which nests only in moss-covered branches of large conifers within the coastal forest zone. The second central Oregon project encompasses an important migration corridor for mule deer, which are very sensitive to human disturbance during winter months and have experienced widespread declines in population in much of western North America. Carbon credit sales provide funding to protect and restore meadows, water sources and forage for mule deer.
“As a signatory of the U.N. Principles of Responsible Investing and a climate-smart forestry company since its founding in 2004, EFM embraces Nike’s commitment to reaching the Paris Agreement’s lowered emissions goals.”, said CEO Bettina von Hagen, “We look forward to continuing to partner with other innovative companies to develop natural climates solutions, including high-quality carbon offsets, and working together to fight climate change, protect water quality, create rural jobs and preserve access to recreational opportunities for all.”
###
EFM is a real asset investment manager that invests in natural climate solutions across the Americas. Our investments in forests, farms, and ecosystems use climate-smart management approaches to create carbon sinks, protect water and biodiversity, improve recreational access, and support rural livelihoods. EFM stewards over 100,000 acres and has $210M in capital under management and advisement. Since 2004, we have been pioneering impact investment strategies that use blended capital and conservation finance to create long-term financial value and enduring social and environmental impact.