Rosneft’s Green Pledge With BP Challenged by Its Arctic Plans
- The companies signed an agreement on low-carbon solutions
- The deal not enough to make BP’s green plan work: Greenpeace
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As Rosneft PJSC and its largest foreign shareholder BP Plc join efforts to reduce carbon emissions, the specter of the Russian oil giant’s Arctic development threatens to make this task far more challenging.
The two producers have agreed “to cooperate in identifying and developing new low carbon solutions and programs that will support their shared sustainability goals,” they said in a joint statement Thursday. Rosneft and BP will look into production of cleaner fuel, trading of forest carbon offsets, as well as launching carbon capture, utilization and storage projects.