bp: takes majority stake in forest carbon offset platform

(CercleFinance.com) - bp is taking a majority stake in Finite Carbon, a supplier of forest carbon offsets, betting on market tools that put a price on carbon.


Finite Carbon's Web-based platform enables small landowners to access the carbon offset market, generating revenue when they protect, plant, or improve forests.

Finite Carbon now has 50 carbon projects on three million acres in the US, which have generated revenues of over 500 million dollars for landowners.

bp said that Finite Carbon has the potential to build a global platform, and aims to grow the firm rapidly through its "Launchpad" business accelerator.

bp made an initial investment of five million dollars in Finite Carbon last year.

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