BP takes majority stake in Finite Carbon

Energy giant BP has increased its investment in Finite Carbon, a forest carbon offset developer, increasing its stake in the company to a majority.

Finite Carbon is the largest developer of forest carbon offsets in the US and BP will bring the firm into its in-house business accelerator, BP Launchpad.

Finite Carbon identifies and develops projects that enable 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-recognised standards and can be traded on markets.

David Eyton, BP’s executive vice president of innovation and engineering, commented: “Finite Carbon has the potential to build a global platform for managing and financing natural climate solutions (NCS). Deepening our partnership will allow them to accelerate their development and expansion.”

Finite Carbon is currently developing its Core Carbon product for launch in 2021, the first web-based platform designed to enable small landowners (40 acres plus) to access the carbon offset market. The technology removes barriers, including high transaction monitoring and reporting costs, which prevent small landowners from accessing the carbon market and instead enable them to generate new annual income through long-term commitments to good land stewardship.

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