Sibur Plans to Use Russia’s Forests to Offset Carbon From 2024
- Petrochemical company says it’s responding to investor demands
- Yet such programs have faced criticism from climate scientists
Photographer: Yuri Kadobnov/AFP/Getty Images
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Petrochemicals giant Sibur PJSC plans to offset some of its emissions by tapping the carbon-capture potential of Russia’s massive forests from 2024.
Sibur will consider buying carbon credits from projects that plant trees or boost the CO2 absorption capacity of existing woodlands, becoming one of the first Russian companies to do so. The country is keen to monetize the “carbon sink” potential of its vast forests, but such programs have faced criticism from climate scientists.