Oil major, Shell is taking fresh measures aimed at offsetting carbon emissions created by the consumption of the fossil fuels the company produces.
The company said it will invest $300-million over a three year period in reforestation projects in Spain and the Netherlands, as well as investing in electric vehicle charging stations and a fuel programme allowing drivers to offset their carbon pollution.
The investments are part of Shell’s carbon footprint reduction plan which it aims to cut by two per cent to three per cent over the next three years. The reforestation projects will absorb some of the CO2 produced when customers burn petrol and natural gas.
In Spain, the company is partnering with Land Life Co. on a reforestation project which has an aim of planting 300,000 trees by the end of 2019. In the Netherlands, it will work with Staatsbosbeheer, the Dutch forestry service with the goal of planting 5 million trees over a period of 12 years.
Other measures include the establishment of an 800-hectare forest regeneration project in Australia and conservation work with the Malaysian government. “Our focus on natural ecosystems is one step we are taking today to support the transition towards a low-carbon future,” said Royal Dutch Shell CEO Ben van Beurden.
“This comes in addition to our existing efforts, from reducing the carbon intensity of oil and gas operations to investments in renewable sources of energy.” Last year, Mr van Beurden said that there needed to be “massive reforestation” in order to limit global temperature rise to 1.5°C (2.7°F). “Think of another Brazil in terms of rainforest and you can get to 1.5°C,” he told an audience in London.