Sign Up To Our Free Newsletter

Join Now

Thanks for subscribing to our free newsletter!


  • 4 minutes IMPORTANT ARTICLE BY OILPRICE.COM EDITOR - "Naked Short Selling: The Truth Is Much Worse Than You Have Been Told"
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 1 hour Texas forced to have rolling black outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 15 hours Retired RAF pilot wins legal challenge over a wind farm
  • 13 hours U.S. Presidential Elections Status - Electoral Votes
  • 24 mins Speaker Pelosi, "Tear Down This Wall"
  • 11 hours NYT:  The Supreme Court’s order (Re:  Trump’s tax returns) set in motion a series of events that could lead to the startling possibility of a criminal trial of a former U.S. president
  • 3 hours Joe Biden's Presidency
  • 4 hours Interest article about windmills and waterwheels in Europe
  • 2 days Minerals, Mining and Industrial Ecology
  • 15 hours Wednesday Nikki Haley reached out to Trump for meeting at Mar-a-lago. Trump said No ! You blew it Nikki . . .
  • 6 hours Disaster looming in UK offshore wind power
  • 14 hours Scientist clone endangered Black Footed Ferret from Ferret that died 30 years ago . It's a 100% exact genomic match.
  • 22 hours Pipeline vs Train vs Ship to Transport Crude Oil.
  • 24 hours NG spot prices hit triple digits for weekend delivery
  • 2 days Chance for (Saudi)Arabian peninsula having giant onshore Gas too?

BP Buys Majority Stake In Top U.S. Forest Carbon Offset Developer

BP has bought a majority stake in the largest U.S. forest carbon offset developer, Finite Carbon, boosting the interest it acquired in the company last year, the supermajor aiming to become a net-zero business by 2050 said on Wednesday.  

Last year, BP Ventures invested $5 million into Finite Resources, Inc, allowing its subsidiary Finite Carbon, to launch a voluntary carbon offsets program for businesses. BP’s initial investment was aligned with its efforts to advocate for a price on carbon, the UK-based major said in October 2019.

Finite Carbon was set up in 2009 and has since become the largest developer of forest carbon offsets in North America with 50 projects on three million acres in the U.S. Finite Carbon is developing projects to help landowners to generate revenue from the protection, restoration, and sustainable management of forests. These actions increase carbon stored in forests and generate carbon offsets that are verified against industry-recognized standards and can be traded on markets, BP said in a statement.

“Thanks to this unique partnership with bp, Finite Carbon now has the resources of a global energy company behind it to help address this enormous environmental challenge and help small landowners access this market,” Sean Carney, founder of Finite Carbon said.

“Finite Carbon’s progression through bp - from venturing investment to majority ownership and introduction to Launchpad – is a great example of how we are applying our unique innovation ecosystem to foster innovation and build material energy businesses in support of our net zero ambition,” said David Eyton, executive vice president of innovation and engineering at BP.  

The supermajor, which has pledged to reduce its oil and gas production by 40 percent by 2030 as part of its net-zero strategy, recently recommended, together with many major Wall Street banks, that the U.S. set a price on carbon, in a report commissioned by the U.S. Commodity Futures Trading Commission (CFTC).   

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News