Shell invests in Amazon Forest preservation

The supermajor has committed to an investment of approx. USD 38m in Amazon Forest preservation efforts.

Photo: Toby Melville/REUTERS / X90004

Oil giant Shell has invested in Brazilian company Carbonext, which seeks to preserve forest areas in Brazil, writes Reuters Monday.

The investment totals USD 38m.

Carbonex operates various preservation projects across 2 million hectares of the Amazon Forest. These projects are owned by companies pursuing carbon credits.

”Associating our company with Carbonext is an important step towards our goal of offsetting 120 million tonnes of CO2 a year by 2030,” says Country Chair of Shell Brazil Andre Araujo in connection with the new investment.

Shell seeks to reach an overall target of net-zero emissions by 2050.

Shell to build Europe’s largest hydrogen plant

Shell joins consortium bidding for North Sea energy island

More from EnergyWatch

Neighbors warn Norway about dangerous solo show

If Oslo ends up reducing its electricity exports, more than than just supply security is at stake. Doing so would risk setting a damaging precedent throughout Europe, say TSOs of other Nordic countries in a an unusually sharp joint plea.

Further reading

Related articles

Latest News

See all jobs