Nature-Based Carbon Removal with the World's Fastest Growing Tree — Doug Willmore, CEO of World Tree
Led by CEO Doug Willmore, World Tree acts as a platform to facilitate the planting of Empress Splendor trees to sequester carbon while generating returns for both farmers and investors through both carbon offset and lumber sales.
Listen to the Podcast
What is World Tree, and what makes you unique?
We grow sustainable forests and farms in North America and Central America. With plans to expand into South America next year. We primarily focus on the growth of the Empress Splendor tree, which is the fastest growing tree in the world. This species of tree grows to about 80 feet tall and 20 inches in diameter in about 10 years. (Most trees take 20 to 50+ years to reach maturity.) After this period of growth, we can harvest the trees to produce high-value lumber products for end-use as guitars, flooring, and other finished wood products. The most remarkable aspect of these trees is that after they are cut, they regenerate up to seven times, meaning we can get seven of these significant carbon sequestration cycles from a single seed. As a company, we facilitate the partnership between retail investors, looking for an environmentally sustainable investment, and small farmers looking to plant and harvest profitable crops. We are also impacting seven of the UN Sustainable Development Goals, which is really motivating for our team, too.
Can you provide some numbers for context on the scale of the business?
We work with approximately 240 small farmers with about 5,000 acres planted. We plan to plant another 10,000 acres of trees over the next 12 months. Beyond this year, we truly believe the sky's the limit. We are in discussions with larger institutions to plant anywhere from 2,000 to 100,000 acres for single projects.
How do you think about the permanence question as it applies to carbon sequestration with nature-based solutions, versus other technological carbon capture solutions?
Our timber products are used in long-duration end-use applications, such as finished wood in buildings that should be there for many decades. We also believe that our farm-grown products prevent the clear-cutting or removal of old-growth forests. It is estimated that 40% of the world’s current timber comes from old-growth forests today. Therefore, by creating sustainable yet high-quality farmed timber, we can protect these forests and retain their sequestered carbon.
What are your visions for regenerative agriculture as a new feature for World Tree?
When we partner with small farmers, almost all are already planting other crops such as coffee, but these partners have found that the Empress Splendor tree is also great for intercropping purposes. The tree generates extra nitrogen in the soil which allows farmers to substantially reduce their fertilizer use. It also boosts soil moisture. We don’t believe in monoculture above 10-20 acres. We aim to maximize environmental benefits from the acreage that we have planted, so we aim to produce food and increase soil resiliency by intercropping trees with a wide variety of other crops. In doing so, we create another source of revenue for the farmer without substantially reducing income from the traditional farming techniques.
Can you talk about your programs and general business model?
Our Eco-Tree program pairs retail investors with small farmers looking to generate an alternative source of income. We provide all the know-how, oversight, and seedlings for the farmers. The farmers put up their property and maintain the trees. Our investors and farmers split the revenue from both the carbon offset credits generated by the trees and the lumber sold when the trees are harvested after 7-10 years. Additionally, we have begun exploring larger projects with institutions or companies to develop one-off projects in the thousands of acres. These projects typically show up on our doorstep fully funded.
Can you provide some context behind the World Tree Story?
The company was founded about 17 years ago by Wendy Burton. Wendy initially started the company to protect old-growth forests by developing a farmed lumber alternative. In the meantime, it has become clear that the carbon sequestration benefits were significant. While many companies have used the Empress Splendor tree throughout Europe and Asia for biofuel purposes, World Tree was one of the first to prioritize lumber and carbon sequestration. I became CEO of the company about 18 months ago as Wendy was looking for someone to partner with to continue to grow the company. It was perfect timing for me as I was looking to make a transition back into the private sector, and I could not be happier to work with the team at World Tree.
Why did you make a professional switch to World Tree, and what did your career look like before that?
I have a bachelor’s and master’s degree in public administration, and I had always planned on working in the public sector. Nonetheless, I began my career working in consulting and then made a switch to the healthcare industry where I played a substantial role in growing a healthcare firm. After a successful exit, I transitioned to several public sector leadership roles in both Salt Lake City Utah, and several cities in California. During my time as a public servant, I started to become slightly disillusioned with the lack of action on the climate change front and began to believe in the power of the private sector to make a difference in this area. It was at this point that I was fortunate enough to meet Wendy, and the rest is history. Generally speaking, I really believe in the power of seeking to say “yes” to new and interesting opportunities. My professional career has been littered with serendipitous opportunities, and I truly believe this is the best approach to a career.
If you could have given yourself advice ten years ago, what would it have been?
I think it is more clear to me now than ever before that love is a crucial aspect of business and that the world will continue to belong to those who will lead with their heart and with passion. I remember a line from a great movie with Jack Nicholson called As Good as it Gets, in which Nicholson says, “It goes in the blink of an eye,” and I truly believe that. I think love is the most important word in business. So if I were to give myself advice ten years ago, it would be to love as much as you can, when you think you have loved, then love even more.
Where do you see yourself and World Tree in 10 years?
We are out to build the largest tree-focused company in the world. I love what I do and couldn’t imagine being anywhere but here doing this work at World Tree. We have ambitious goals, but I love to chase the challenge.
Do you have any habits that keep you focused or motivated?
My three biggest points of emphasis are sweating every day, getting a good night’s sleep, and a “be here now” approach to being present in the moment, right where you are, right now.
Do you have any books that you would recommend to listeners?
Thinking Fast and Slow by Daniel Kahneman is a great book for its ability to shine a light on some of the faulty heuristics and default ways of thinking about the world that we often rely on. I am always interested in continuing to get better through self-examination of these types of practices. Good to Great by Jim Collins is another book that I’d recommend. Though some of the data from the book hasn’t borne out, I think the general principles, such as confronting the brutal facts, getting the right people on the bus, and focusing on what you can be the best in the world at, have been highly useful for me in my career.
Do you have a podcast recommendation?
Of course, I love the work that you are doing with the Climate Torch. I’d also recommend Malcolm Gladwell’s Revisionist History, which is a podcast that I enjoy for its ability to point out the blind spots in the way that we think about and perceive the world.
Do you have a recommended quote?
Leonard Cohen said, “If you don’t become the ocean, you will be sea-sick every day.” To me, this signifies that we should embrace the uncertainty and diversity of life. I think this has only been emphasized over the last year. Ultimately, I think we have to go beyond embracing change and rather look to cause it.
How can listeners or readers support your mission?
I think as individuals it’s important to act as if the world is on fire because it is. However, I think Paul Hawken had it right when he said something like this, “When it comes to climate change, if we look at the data, we’ll be depressed. But if we focus on the people and solutions, we’ll be full of hope.” I would also challenge our business partners and individuals to make 2030 goals rather than 2050 goals regarding Net Zero commitments. As far as World Tree, if you are an individual looking to invest in sustainable timber, you can take a look at our Eco-Tree program. If you are a representative of a larger institution looking to do a custom project for investment or carbon offset goals, then reach out directly and we will gladly start that discussion, too.
Learn more.
Apply to our join our Climate Mastermind, an invite-only executive coaching group for climate CEOs and investors. We focus on faster business growth, better decision making, investor savvy, and stronger networks. Founded by Dr. Chris Wedding — with $1B of investment experience, 40,000 professional students taught, 25 years of meditation practice, and certification as a Mastermind Professional — our cohorts function like your own personal Board of Directors.
Sign up for ZERO newsletter (climate investment and startups, personal development and productivity).
Note:
THE TORCH is an interview series from Entrepreneurs for Impact. We profile CEOs and investors mitigating climate change. Our goal is to highlight their work and inspire others. As we deal with multiple crisis, from Covid and racial injustice to climate change and economic recession, we need some of this positive light in what seem like dark times. Onward and upward.