The oil and gas company Shell seeks more sustainability in its production chain and, moving forward with its project to reduce CO2 emissions, made an investment of US$ 40 million in the carbon credit company Carbonext.
Taking another step towards contributing to sustainability and reducing environmental impacts, Shell became a shareholder in the developer of carbon credits Carbonext on Tuesday, (11/07). The company made an investment of US$ 40 million and will have preference in the Carbonext carbon market, thus accelerating its project to reduce CO2 emissions in its production chain.
Carbon credit developer Carbonext receives US$ 40 million investment from Shell, which expands project to reduce CO2 emissions
Last Tuesday, Shell announced a millionaire investment of US$ 40 million in the carbon credit development company Carbonext, targeting the international carbon market, which could be worth up to US$ 50 billion by the year 2030. And , with the investment in the carbon company, the oil company will now have priority in the carbon market over the next few years, also becoming a shareholder in the company.
The company's main objective in the millionaire investment in the carbon credit developer is the collaboration with its project to reduce CO2 emissions. This is because André Araújo, president of Shell Brasil, commented that the oil company has a goal of offsetting 120 million tons of CO2 per year by 2030. In this way, the application in Carbonext will be essential for this, since the company carries out projects of preservation in millions of hectares in the Amazon Rainforest.
And, in the oil and natural gas production market, several companies, as well as Shell, invest in the carbon credits segment. This is because this is a way of reducing emissions based on nature-based solutions, such as the Carbonext sustainability and environmental preservation project.
The energy transition is increasingly a reality close to these companies and, while oil companies do not find an alternative to replace CO2 emissions with a sustainable solution, the main measure to reduce impacts is to capture carbon with trees, investing in environmental projects. .
Shell's investment in Carbonext to reduce CO2 emissions will contribute to the growth of the carbon credit market
After the announcement of the millionaire investment in Carbonext by the oil company Shell, the company that develops carbon credits highlighted that the amount will be applied for forest preservation and for the development of new business areas, such as bioeconomy and reforestation in the Amazon rainforest.
Thus, the value will be used for improvements in the processes of developing carbon credits, which aim to add value to the standing forest, an economically viable alternative to livestock and agriculture.
Carbonext is a reference in the field of carbon credits and has international clients, such as Raízen, Isa Cteep, TIM, C6 Bank, Uber, Liberty Seguros, Buser, among other corporations. Thus, 70% of Shell's investment to reduce CO2 emissions will be in the forest itself, as a way of expanding techniques for environmental preservation and carbon capture.
Finally, the partnership with Shell, which is a shareholder in the carbon credits group, will enable new innovations in the areas of biotechnology and monitoring of the Amazon Forest. Furthermore, the companies also announced that the next 100 days will be essential for the partnership, as they will feature a series of technical studies for environmental preservation solutions in the region.
