LONDON (Reuters) – Dutch drivers seeking to offset their impact on the environment will soon be able to do so at Shell petrol stations with credits to support initiatives such as tree-planting projects.
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The scheme is due to launch in the Netherlands this month before being expanded to other countries, the oil major said yesterday as it outlined plans to invest $300 million in the programme over the next three years as part of its clean energy budget of up to $2 billion a year.
The programme is similar to schemes used by some airlines and counts towards Shell’s target to cut its net carbon footprint by 2-3 percent within three years, including so-called Scope 3 emissions generated by customers rather than the company’s own operations.
Other energy giants, such as BP and Total, have not yet committed to cutting Scope 3 emissions.
Shell’s investment will mean the credits incur no extra cost for customers who choose Shell V-Power petrol or diesel. Those who fill up with regular Shell petrol or diesel can participate for an additional 1 cent a litre.
“Shell buys these credits from a global portfolio of nature-based projects … Each carbon credit is subject to a third-party verification process and represents the avoidance or removal of 1 tonne of carbon dioxide,” Shell said.
The scheme will have to be scaled up to have a big environmental effect, said Shell’s head of Integrated Gas and New Energies, Maarten Wetselaar.
The voluntary and compliance-based markets for carbon credits covered around 30-40 million tonnes of CO2 in 2017, Shell estimates.