{"id":45200,"date":"2019-10-28T15:43:58","date_gmt":"2019-10-28T13:43:58","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=45200"},"modified":"2019-10-28T15:43:58","modified_gmt":"2019-10-28T13:43:58","slug":"bp-looks-to-enable-carbon-offsetting-for-businesses","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/bp-looks-to-enable-carbon-offsetting-for-businesses\/","title":{"rendered":"BP looks to enable carbon offsetting for businesses"},"content":{"rendered":"<p style=\"direction: ltr;\">As Big Oil diversifies in the face of renewable energy\u2019s ascendant prominence and legislative moves towards net zero industries,\u00a0<a href=\"https:\/\/www.bp.com\/\">BP<\/a>\u00a0has been investing in various initiatives and firms seeking to accelerate the adoption of sustainable alternatives and limit environmental impacts.<\/p>\n<p style=\"direction: ltr;\">The latest move from BP Ventures is a $5mn investment in Finite Resources, the parent of <a href=\"https:\/\/www.finitecarbon.com\/\">Finite Carbon<\/a>\u00a0\u2013 a firm based in the US focused on managing carbon through forestry.\u00a0<a href=\"https:\/\/www.bp.com\/en\/global\/corporate\/news-and-insights\/press-releases\/bp-invests-in-forest-carbon-offsets-leader-finite-resources.html\">BP\u2019s press release<\/a> said the funds will go towards a new line of business aimed at incentivizing business-financed forest management for carbon offsetting purposes, according to CSO magazine.<\/p>\n<p style=\"direction: ltr;\">Finite Carbon, which celebrated its 10th anniversary this year, is North America\u2019s largest manager of forest carbon offsets with 40 forest projects across almost 3mn acres. By promising financial rewards for positive carbon outcomes, Finite Carbon aims to support the plans laid out in the Paris Climate Agreement to both increase forest coverage and reduce emissions relative to deforestation and forest degradation.<\/p>\n<p style=\"direction: ltr;\">The company quantifies carbon benefit for long-term commitments to its forestry strategy through a fee-per-tonne scheme that measures carbon stored permanently by trees. The benefits go deeper, with stronger woodland ecosystems reducing the likelihood of wildfires and providing the local environment with cleaner air and water, supporting biodiversity and offering recreational opportunities for local communities.<\/p>\n<p style=\"direction: ltr;\">\u201cJust as a price on carbon incentivizes the transition to low carbon energy production, it also incentivizes the sustainable management of American forests,\u201d said Sean Carney, Chief Executive of Finite Carbon, in BP\u2019s press release.<\/p>\n<div id=\"block-mainpagecontent\" class=\"block block-system block-system-main-block\">\n<div class=\"content\">\n<div class=\"content-body\">\n<p style=\"direction: ltr;\">\u201cWhen businesses choose to buy forest carbon offsets, it means landowners are being paid to practice good forest management, which isn\u2019t as easy or as profitable as the alternative. These changes aren\u2019t just good for the planet \u2013 they\u2019re good for the people who fish in, swim in, and drink the water that flows through these forests.<\/p>\n<p style=\"direction: ltr;\">\u201cWith BP\u2019s investment in Finite Resources, we plan to significantly scale the use of voluntary offsets as a mechanism to incentivize forest stewardship. With the help of those businesses committed to supporting good forest management, we expect to deliver more than $100 million directly to landowners in the next five years.\u201d<\/p>\n<p style=\"direction: ltr;\">Nacho Gimenez, Managing Director of BP Ventures, added: \u201cThe conservation and restoration of forests is vital to combating climate change. BP has supported Finite Carbon\u2019s project developments and purchased many of their offsets for regulatory compliance for a number of years.<\/p>\n<p style=\"direction: ltr;\">\u201cNow we look forward to supporting the team\u2019s expansion into the voluntary carbon market as it connects businesses that are willing to offset their carbon footprint with landowners willing to adopt forest management practices that maintain and increase carbon storage.\u201d<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As Big Oil diversifies in the face of renewable energy\u2019s ascendant prominence and legislative moves towards net zero industries,\u00a0BP\u00a0has been investing in various initiatives and firms seeking to accelerate the adoption of sustainable alternatives and limit environmental impacts. The latest move from BP Ventures is a $5mn investment in Finite Resources, the parent of Finite [&hellip;]<\/p>\n","protected":false},"author":410,"featured_media":45207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6261,984,6030],"tags":[7285,7286,6402,6251],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BP looks to enable carbon offsetting for businesses - Csr Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/bp-looks-to-enable-carbon-offsetting-for-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BP looks to enable carbon offsetting for businesses - Csr Egypt\" \/>\n<meta property=\"og:description\" content=\"As Big Oil diversifies in the face of renewable energy\u2019s ascendant prominence and legislative moves towards net zero industries,\u00a0BP\u00a0has been investing in various initiatives and firms seeking to accelerate the adoption of sustainable alternatives and limit environmental impacts. 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