Energy & Science
BP Acquires Majority Stake in U.S. Forest Carbon-Offsets Company
- Finite Carbon to work with BP’s ‘Launchpad’ business-builder
- Deal will help digitize measurement of CO2 stored in forests
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BP Plc acquired a majority stake in forest carbon-management company Finite Carbon, expanding on an initial investment made last year.
The transaction gives BP -- one of the world’s biggest carbon-credit traders -- control of the largest developer of forest carbon-offset credits in the U.S. It comes at the end of a year that’s seen the oil major step up its commitment to reduce emissions and increase investments in cleaner energy.