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Big carbon? Oil majors turn to nature to help plug revenue gap

6 Min Read LONDON (Reuters) - 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. A dense stand of small trees clear-cut approximately 10 years earlier is seen from the edge of Hersey Mountain Wilderness in New Hampton, New Hampshire, U.S., December 4, 2020. REUTERS/Elizabeth Frantz BP last year put $5 million into Finite Carbon, a company that connects forestry owners with companies seeking to offset their climate-warming emissions via-tree planting. The Californian firm expects to generate $1 billion for landowners over the next 10 years, after a 20-40% cut of the proceeds, its chief executive Sean Carney said.

Big carbon? Oil majors turn to nature to help plug revenue gap

Big carbon? Oil majors turn to nature to help plug revenue gap Dec. 13, 2020 05:10 am JST Jan. 13 | 03:02 pm JST LONDON The requested article has expired, and is no longer available. Any related articles, and user comments are shown below. © Thomson Reuters 2020. ©2021 GPlusMedia Inc. Dec. 13, 2020 04:49 pm JST Of course there will be a disparity in the price of carbon credits. As much of the cost of each carbon-reducing project is based on labor, credits will produce far less in offsets in the developed world. The cost of planting an acre or hectare of trees in the Global South is much less expensive than in the northern hemisphere.

Is Big Oil becoming Big Carbon ? Revenue falls force rethink

Is Big Oil becoming Big Carbon ? Revenue falls force rethink
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