Are oil firms nurturing nature because they care about the ...

World

Are oil firms nurturing nature because they care about the climate or cash?

As companies, ‘largely responsible for climate-warming emissions’, seek more carbon credits, prices are set to rise

Shadia Nasralla

Oil companies such as BP and Shell are nurturing nature as a future revenue stream, betting on an expected rise in carbon credit prices as their fossil fuel profits ebb.

BP last year put $5m (about R75m) into Finite Carbon, a US company that connects forestry owners with businesses seeking to offset their climate-warming emissions via tree planting.

The Californian firm expects to generate $1bn (about R15bn) for landowners over the next 10 years, after a 20 to 40% cut of the proceeds, its CEO, Sean Carney, said...

This article is free to read if you register or sign in.

Sunday Times Daily

If you have already registered or subscribed, please sign in to continue.

Questions or problems?
Email helpdesk@timeslive.co.za or call 0860 52 52 00.

Previous Article