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 a mass reforestation drive.
Shell will spend $300 million over the next three years on initiatives like planting more than 5 million trees in the Netherlands and Spain, supporting forest regeneration in Australia and potentially engaging in conservation in Malaysia. The company also revealed new investments in electric vehicle battery charging stations and a fuel program to help drivers offset carbon pollution from their tailpipes.
The investments in ecosystems are part of Shell's plan to reduce its net carbon footprint by 2% to 3% over the next three years. By shoring up forests, which absorb carbon dioxide, Shell aims to offset the CO2 emitted when its customers burn the petroleum products and natural gas that it produces — and which still account for the vast majority of its revenue.