ARAMCO – Restoring one of nature’s best defences against climate change
Aramco is planting mangrove forests to restore natural carbon sinks, enhance biodiversity and protect coastlines
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Natural climate solutions strengthen the capacity of oceans, forests, grasslands, peat, mangroves and soil to act as natural sinks for carbon dioxide. They have the potential to deliver a third of the carbon dioxide mitigation needed for emissions to align with the goals of the Paris Agreement by 2030.
In addition to efforts to decarbonize energy, OGCI is actively exploring ways to catalyze natural climate solutions responsibly and on a scale that will create tangible tools to tackle climate change and bring meaningful co-benefits.
What OGCI is doing
OGCI is actively exploring ways to catalyze natural climate solutions responsibly and on a scale that will have a meaningful impact on climate change, acting in parallel with and to complement member companies’ own activities.
We are exploring ways to support the development and transfer of knowledge and technology, and how to apply best practices in our industry. We are also looking at the role of well-established carbon markets to scale up the deployment of natural climate solutions, how to introduce measurable national targets and how to ensure reporting clarity and avoid double counting.
Establish sound NCS policy through the NCS Alliance and support of its draft guiding principles
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Identify and close knowledge and technology gaps that may have the most significant impact on the scale-up of NCS.
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Apply best practices in our own operations and actions working with IPIECA.
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OGCI member companies seek to deliver environmental, biodiversity and social benefits in addition to carbon mitigation in their natural climate solutions projects, in line with UN Sustainable Development Goals.
What OGCI member companies are doing to leverage natural climate solutions
Member companies are working with a wide range of organizations to maximize nature’s ability to absorb carbon dioxide while reaping co-benefits for biodiversity and local communities.
TOTALENERGIES – Investing in natural carbon sinks in Congo-Brazzaville
Total Energies aims to store 5 million tonnes of carbon dioxide a year in natural carbon sinks by 2030.
bp – Investing in verified carbon offsetting and forest stewardship
bp’s subsidiary Finite Carbon is helping landowners to keep carbon stored in their forests while generating new revenue streams.
PETROBRAS – Natural climate solutions in the Amazon
Petrobras is leading the global NCS work stream for OGCI member companies seeking to deliver environmental, biodiversity and social benefits, in addition to carbon mitigation, in their projects.
