Posted by OilVoice Press - OilVoice
“The most important climate actions for Equinor will still be reduction of emissions from our oil and gas production and considerable growth in renewables. But to reduce human-induced climate change we must all do more. That is why we want to also invest in the protection of tropical forest, one of the most important and effective climate actions,” says Eldar Sætre, CEO of Equinor.
In line with the UN's Climate Convention, Norway has initiated a major climate and forest initiative. Since 2008 Norway has contributed around NOK 23 billion to measures reducing emissions from deforestation in developing countries (REDD+) and will pursue this effort up to 2030.
Equinor wants to help develop a robust market for private sector, ensuring responsible environmental and social protection of tropical forest. Further details about the timeline and scope for Equinor's investments will be shared when there are more clarity on the market development.
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