LONDON, April 8 (Reuters) - Oil giant Royal Dutch Shellwill launch a programme allowing customers at itspetrol stations in the Netherlands to offset their carbonemissions by buying credits to support environmental projects,the group said on Monday.
Shell plans to invest $300 million over the next three yearson the programme, it said.
The money drivers pay for the credits will be invested inprojects, such as tree planting, in the Netherlands, Spain,Peru, the United States and Australia.
This scheme counts towards Shell's target to cut its netcarbon footprint by 2-3 percent within three years, includingso-called Scope 3 emissions which are generated by Shell'scustomers rather than just its own operations.
Other energy giants, such as BP and Total,have not yet committed to cutting their Scope 3 emissions.
"Shell buys these credits from a global portfolio ofnature-based projects... Each carbon credit is subject to athird-party verification process and represents the avoidance orremoval of 1 tonne of carbon dioxide," Shell said.
Dutch drivers will be able to use the credits for what Shelldescribed as "carbon neutral" driving from April 17. The schemewill expand to other countries, starting with Britain later thisyear, it said.
"Shell’s announcement signals that one of the world’sbiggest energy companies is pursuing a decarbonisation strategywith a broad set of solutions," Mark Tercek, chief of U.S.-based environmental group The Nature Conservancy.
Shell drew rare praise from investors and environmentalactivists in December when it set out plans to introduceindustry-leading targets to reduce greenhouse gas emissions andlink them to executive pay.
An activist group said on Monday it had withdrawn ashareholder resolution calling on Shell to change its climatepolicy after the oil and gas company reached a broad agreementwith investors on the issue.
(Reporting By Shadia Nasralla; Editing by Kirsten Donovan)
BP (BP.)
