|ALC carbon outcome||Enabling BP or others to meet their low carbon objectives|
|Geographic scope||United States|
230,000 tonnes CO₂e [Jan-Dec 2018]
Terrestrial systems, such as forests, play a vital role in both causing and tackling climate change. This is because deforestation contributes to global CO2 emissions. But forests also absorb and store carbon dioxide (CO2) emissions that are caused by human activity.
BP has invested in the EKO Green Carbon Fund , which, in turn, invests in the development of carbon offset opportunities, primarily from land-based carbon sequestration projects in the US. These may include forestry and projects that promote a change in land use, such as switching from one agricultural product to another. It provides capital and project management expertise for land-based projects, such as improved forest management, in exchange for a minority stake in the carbon offsets that these projects produce.
The fund rewards landowners for changing their land management practices in order to capture and store carbon. The carbon offsets that are generated are sold to organizations to help them to comply with greenhouse gas emissions regulations.
To date, the EKO Green Carbon Fund has invested in five forestry projects across the US. Together, they have generated more than 8 million tonnes of carbon offsets since 2011 and provided new income to landowners.