Oil Giant Equinor Announces New Investments in Forests, Marking Its First Time in Brazil

Written by Roberta Souza

Published on 19/12/2020 at 14:57

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The Norwegian Equinor Will Invest for the First Time in Brazil in the Preservation and Maintenance of Forests

Equinor Brazil announced that the company has closed a partnership with the Guapiaçu Ecological Reserve (Regua) in Cachoeiras de Macacu, in the State of Rio de Janeiro. This will be the first time that the Norwegian company makes a global investment in the protection and maintenance of forests in Brazil. The partnership is valid for three years and may be renewed for two more years.

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The investment aims to protect and reforest the Atlantic Forest in Brazil to contribute to the company’s decarbonization plan to achieve net zero carbon emissions by 2050.

Margareth Øvrum, Executive Vice President of Production and Development at Equinor in Brazil, stated that “Restoring and protecting tropical forests is crucial for conserving biodiversity and addressing climate change. In partnership with Regua, we will contribute to the restoration of degraded areas, returning to the original forest, as well as ensuring permanent protection of remaining forests and enabling education for students in Rio de Janeiro so they can learn about the importance of tropical forests, biodiversity, and climate.”

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The company did not disclose the investment amount, but in addition to helping restore and protect natural habitats, Equinor will also support students in Rio de Janeiro to learn about the importance of tropical forests, their biodiversity, and their contribution to climate change.

Meanwhile, Equinor’s Vice President of Operational Safety and Sustainability, Paulo Van der Vem, said that “This announcement, along with our actions to reduce our oil and gas emissions and grow profitably in renewables, confirms our commitment to sustainable development, which is a fundamental agenda for our long-term strategy in Brazil.”

The oil company reported that with the addition of this investment, these actions are expected to become more intense. The company installed the world’s first solar energy project in the country and intends to build an offshore wind farm in Brazil, which has already held a dominant position in other countries.

Oil Giant Equinor Announces New Investments in Forests, Marking Its First Time in Brazil

The Norwegian Equinor Will Invest for the First Time in Brazil in the Preservation and Maintenance of Forests

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