Norway's Equinor is ready to invest in the protection of tropical forests to reduce its carbon footprint, the company announced on Tuesday. The company confirmed that this plan will be a supplement to the company’s own climate actions. The Norwegian energy giant is operational in many markets such as Africa and the Americas, but the company did not confirm the exact locations in which these investments would impact.
Equinor underlined its strong commitment to the Paris Climate Agreement, and highlighted the need for more cooperation between governments and industry. "The most important climate actions for Equinor will still be reduction of emissions from our oil and gas production and considerable growth in renewables. But to reduce human-induced climate change we must all do more. That is why we want to also invest in the protection of tropical forests, one of the most important and effective climate actions," Eldar Saetre, the company's CEO said.
Equinor is now preparing to invest in reducing deforestation that will correspond to the emissions from the company’s volumes from operated production in areas where there are no price on carbons.
