We plant one tree and employ young Finns against each of our financial statements to reduce our carbon footprints as well as those of our customers. We also create new carbon sinks in Finnish forests. Taimiteko, Seedling Action, has been developed by 4H Finland, which is responsible for planting and organizing the work.
By performing this act, we want to set an example for accounting firms to take concrete and effective action, e.g. to halt climate change. We feel a sense of responsibility to carry out this duty. We also want to develop the awareness and image of our industry as a whole. We will continue to operate in the coming years as well.
We took the decision to join Taimiteko this year. The results of the act will materialize in June 2021, when 4H Finland will have the next planting time. We estimate the number of trees to be planted through us will be about 500. This number largely corresponds to our customer base. The carbon sequestration capacity of one tree during the life cycle is about 233 kilograms of CO2, which means that our effect is about 116,500 kilograms per year. This translates to the removal of more than 116 tons of CO2 from the air.
In the seedling stage, young people plant tree seedlings in areas that have not been in active forestry or agricultural use for decades. In addition, tree seedlings are planted on land set aside for peat production. Pine and spruce are used as tree species.
The goal of the seedling is to plant 10,000 hectares of a new forest by 2030, which translates to a total of about 20 million trees. The seedling act was piloted in the spring of 2019 and by the end of 2020, just over 80 hectares, or just under 200,000 tree seedlings, have been planted.
The potential impact of this act is huge. 20 million new trees will capture a remarkable amount of CO2 during the growth (one cubic meter of the tree is roughly equivalent to 1 ton of CO2). On top of that employing young people is one of the top priorities.
This Planet Act combines environmental and social responsibility aspects and can is here used their CO2 emission compensations in relation to the company's operations. This act has the potential to be easily repeated annually and can be replicated by all kinds of companies.