Energy giants Shell and BP are investing in emerging tech solutions to reach their net-zero goals. We dig into the companies’ strategies in the carbon offset space.
As climate-related disasters become more frequent, more intense, and more costly, companies in every sector around the world are working to reach net-zero goals.
Oil & gas giants Shell and BP, for example, aim to reach net-zero by 2050. Carbon offset technology could help.
Carbon offsets are designed to counteract a company’s emissions by investing in projects that reduce greenhouse gasses, such as reforestation and regenerative farming. The space is growing rapidly — carbon offset tech startups raised over $700M in 2022, up over 600% from 2021. Corporates are also increasingly discussing the solutions on earnings calls.
In this brief, we explore what Shell and BP are doing in the carbon offset space as they strive to decrease their carbon footprint while capitalizing on new tech opportunities.
