Tag: BP

bp acquires majority stake in largest US forest carbon offset developer Finite Carbon

Stuart Mitchell

bp has acquired a majority stake in carbon offset developer Finite Carbon, building on its existing interest in the company. Finite Carbon is the largest developer of forest carbon offsets in the US. bp will bring the firm into its in-house business accelerator, bp Launchpad. Together with bp’s additional investment, this is expected to bolster Finite Carbon’s expansion, including into new geographical markets. Finite Carbon identifies and develops projects that enable landowners to generate revenue from the protection, restoration, and sustainable management of forests. These actions increase carbon stored in…

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Leading energy companies form partnership to accelerate the development of offshore ‎transport and storage infrastructure for carbon emissions in UK North Sea‎

Stuart Mitchell

bp, Eni, Equinor, National Grid, Shell and Total have confirmed they have formed ‎a new partnership, the Northern Endurance Partnership (NEP), to develop offshore carbon dioxide ‎‎(CO2) transport and storage infrastructure in the UK North Sea, with bp as operator. This ‎infrastructure will serve the proposed Net Zero Teesside (NZT) and Zero Carbon Humber (ZCH) ‎projects that aim to establish decarbonized industrial clusters in Teesside and Humberside.‎ NZT and ZCH are at-scale decarbonization projects that will kick start decarbonization of industry and ‎power in two of the UK’s largest industrial…

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Republic Services, Aria Energy and bp Partner on New Renewable Energy Project

Stuart Mitchell

Republic Services and energy partners Aria Energy and bp have announced the startup of a landfill-gas-to-renewable-natural-gas (RNG) project at South Shelby Landfill. The project directly supports Republic’s commitment to send 50 percent more landfill gas to beneficial reuse by 2030.  South Shelby Landfill is one of 189 active, modern-day landfills managed by Republic Services, the second-largest recycling and waste services provider in the country. Aria operates the project, processing and purifying biogas from the landfill into RNG. bp will transport the RNG into the interstate natural gas pipeline grid and…

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bp sets out strategy for decade of delivery towards net zero ambition

Stuart Mitchell

bp has introduced a new strategy that will reshape its business as it pivots from being an international oil company focused on producing resources to an integrated energy company focused on delivering solutions for customers.  Within 10 years, bp aims to have increased its annual low carbon investment 10-fold to around $5 billion a year, building out an integrated portfolio of low carbon technologies, including renewables, bioenergy and early positions in hydrogen and CCUS. By 2030, bp aims to have developed around 50GW of net renewable generating capacity – a…

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BP to invest $70 million in India’s Green Growth Equity Fund

Stuart Mitchell

BP has announced its intention to invest into the Green Growth Equity Fund (GGEF) in India. The fund, established in 2018, is focused on identifying, investing and supporting growth in zero carbon and low carbon energy solutions in the country. With a commitment of $70 million, bp will, upon investment later this year, become a limited partner in GGEF and have representation on its advisory committee, as well as the rights to co-invest in projects alongside GGEF. GGEF already includes investments from the Government of India, through the National Investment…

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