Shell plans to invest $300 million in projects to combat carbon emissions and global climate change, the company announced on Monday.
The investment that will focus on high quality nature-based solutions to address climate change and rebuild critical ecosystems, will be spread over the next three years.
It is part of the company's target to reduce its net carbon footprint by between 2% and 3%.
Under the plan, Shell will invest at scale in forests, wetlands and other natural ecosystems around the world to reduce emissions and capture more carbon 'while benefitting biodiversity and local communities.'
As a start, in the Netherlands, Shell and its partner, the independent Dutch state forestry service, will plant more than 5 million trees over the next 12 years.
Shell also signed a deal with Land Life Company to create a 300-hectare reforestation project in Spain where around 300,000 trees will be planted by the end of this year.
In addition, in Australia, Shell established an 800-hectare endangered native forest regeneration project.
In Malaysia, Shell and the Sarawak state government are jointly studying the potential for nature conservation, restoration and enhancement venture for Sarawak’s natural landscape.
The company also has investments in renewable energy sources and is working towards reducing the carbon intensity of its oil and gas operations.
By Zeynep Beyza Kilic
Anadolu Agency
energy@aa.com.tr
