Calvert Impact Capital Enters Partnership with 8 Billion Trees to Offset Carbon Emissions
Apr 22, 2022 | Bethesda, MD
Calvert Impact Capital today announced its commitment to offset the carbon emissions of its new offices and commuting staff by partnering with 8 Billion Trees, a small business that sells carbon-offsets and runs large-scale planting operations in the Amazon rainforest.
Calvert Impact Capital will initially fund the planting of more than 1,000 trees and the protection of another 10,380 that will help rebuild the devastated Amazon rainforest. The effort is not only intended to restore and protect native forests, it also helps to rehabilitate and care for displaced wildlife and lift local populations out of extreme poverty.
"Tackling climate change requires a comprehensive approach that acknowledges the interconnectedness of both problems and solutions," said Jennifer Pryce, Calvert Impact Capital CEO. "8 Billion Trees' holistic approach to their work mirrors our own. Not only do they plant trees, but they also focus on supporting local communities and endangered species, protecting biodiversity and preventing habitat destruction. As a social enterprise, they also share our commitment to sustainability and scale, and we're excited to partner with them to increase both of our impacts."
Unlike many carbon credit providers, 8 Billion Trees operates their own planting operations that include nurseries, environmental research centers, and planting sites. They employ scientists who ensure tree planting and protection is done in accordance with rigorous science-based targets, and their overall approach is holistic. 8 billion trees collaborates with local communities to ensure their planting efforts aid local economies with employment, help educate people about the environment, and are a success in the near and long term. "Partnering with a firm that uses a scientific approach to fight climate change on the ground, while also creating shared value in their community, reflects the spirit of impact investing in a way few carbon offsetting opportunities can," said Derek Strocher, Chief Financial Officer. "We are thrilled to partner with 8 Billion Trees."
In addition to its planting activities, 8 Billion Trees offers eco-friendly products as well as tools to help individuals and organization calculate their carbon footprints. Calvert Impact Capital leveraged these tools to assess the carbon impact of its LEED-gold-certified offices in Bethesda, as well as its employees' commutes, and then committed to planting and protecting enough trees to offset it.
"We are delighted to partner with Calvert Impact Capital and support their efforts to meet their organizational impact goals. Because trees remain one of nature's most effective weapons in the fight against climate change, eco-conscious partnerships like this provide immediate and lasting emissions reductions by rebuilding the ecosystems the planet so desperately needs," added Georgette Kilgore, content director at 8 Billion Trees.