Shell signs up to green deal
Royal Dutch Shell has bought a company that helps Australian farmers to use their land differently to reduce their greenhouse gas emissions.
The purchase of Select Carbon is the first acquisition by Shell’s “nature-based solutions” business, which was established as part of its push to cut its carbon footprint. The division is focused on investing in projects in forestry, grasslands and other habitats to reduce emissions or capture more carbon from the atmosphere.
Select Carbon manages 70 projects reducing emissions on nine million hectares of land in Australia, generating carbon credits that can be sold through an Australian government scheme. Polluters can buy carbon credits to offset their emissions.
