Shell will spend $300 million over the next three years to support reforestation and offset greenhouse gas emissions from its products.
The CEO of Royal Dutch Shell recently said the world needs to plant enough trees to essentially create another Amazon rainforest in order to combat climate change. On Monday, the Anglo-Dutch oil major announced plans to support the mass reforestation drive.
In the Netherlands, Shell is partnering with Dutch forestry service Staatsbosbeheer to plant more than 5 million trees over 12 years. In northern Spain, it will work with Land Life Company on a 300-hectare reforestation project with a goal of planting 300,000 trees by the end of the year. Shell has been investing in a range of new businesses, including household battery storage systems and electric vehicle charging infrastructure, as it seeks to get ahead of the transition to clean energy. Shell's director for integrated gas and new energies, Maarten Wetselaar, at a conference in New York last month described the strategy as buying pieces of a puzzle.
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