Energy Efficiency - March 29, 2022
Chevron Collaborates on Carbon Offsets Project
Chevron U.S.A. Inc., through its Chevron New Energies division, and Restore the Earth Foundation, Inc. announced an agreement for a reforestation project for up to 8,800 acres of property in St. Charles Parish, Louisiana.
The project will remove carbon from the atmosphere and be focused on reforesting natural cypress forests and swamps in St. Charles Parish. Chevron will provide funding for Restore the Earth to plant an expected 1.7 million native bald cypress seedlings as part of the project. The St. Charles Parish cypress reforestation project is expected to generate carbon offsets that could both help offset Chevron’s carbon emissions and also help customers achieve their lower carbon goals.
“Carbon offsets are expected to play a notable role in global carbon reduction. Chevron New Energies is proud to collaborate with Restore the Earth on our inaugural carbon offsets project – bringing lower carbon solutions to Chevron as well as our customers,” said Barbara Harrison, vice president of Offsets & Emerging of Chevron New Energies in a statement. “In addition to helping remove carbon, the seedling replanting is anticipated to contribute to local forest and wetland ecosystem restoration.”
In 2021, Chevron launched Chevron New Energies to accelerate lower carbon businesses in hydrogen; carbon capture, utilization and storage (CCUS); offsets; and emerging opportunities, as well as support Chevron’s continued focus on biofuels.
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