{"id":358816,"date":"2023-09-08T18:51:18","date_gmt":"2023-09-08T21:51:18","guid":{"rendered":"https:\/\/anba.com.br\/petrobras-makes-first-carbon-credit-purchase\/"},"modified":"2024-03-22T16:58:17","modified_gmt":"2024-03-22T19:58:17","slug":"petrobras-makes-first-carbon-credit-purchase","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/petrobras-makes-first-carbon-credit-purchase\/","title":{"rendered":"Petrobras makes first carbon credit purchase"},"content":{"rendered":"<p>Rio de Janeiro \u2013 Oil giant <strong>Petrobras<\/strong> said it debuted in the voluntary <strong>carbon credit<\/strong> market by acquiring 175,000 tons of avoided greenhouse gas emissions. That amount corresponds to 570 hectares (1,408 acres) of conserved rainforest, or equal to 800 soccer fields.<\/p>\n<p>The carbon offsets were purchased from the <strong>Envira Amazonia<\/strong> project based in the municipality of Feij\u00f3, Acre, which works to preserve the Amazon rainforest and improve the lives of the communities residing in the region. This decision comes as part of the company\u2019s broader decarbonization effort, which was outlined in its most recent five-year strategic plan that predicts that Petrobras will invest up to USD120 million in carbon credit acquisitions between 2023 and 2027.<\/p>\n<p>Petrobras is using carbon credit purchases as part of its broader climate-centric strategy, which includes reducing emissions from its operations, investing in renewable energy projects, implementing biorefining processes, and exploring carbon capture and storage technologies.<\/p>\n<p>According to Petrobras, the guidelines for the next Strategic Plan 2024-28, currently under development, favor the search for profitable opportunities to expand investment in low carbon, aiming for 6% to 15% of the company\u2019s global investment.<\/p>\n<p>\u201cWe want to make an incisive contribution to Brazil\u2019s energy transition. With each stride toward the use of clean sources, carbon capture and storage, and investment in decarbonization, we\u2019re creating a future in which the economy thrives in harmony with the planet,\u201d Petrobras CEO Jean Paul Prates said in a statement.<\/p>\n<p>Petrobras believes in the carbon market as a vital instrument in fighting climate change, he added. \u201cWe know Brazil has immense potential to lead this segment precisely for being one of the countries with the greatest biodiversity in the world,\u201d he argued.<\/p>\n<p><strong>Carbon market<\/strong><\/p>\n<p>The carbon market is a tool for offsetting greenhouse gas emissions through the trade of carbon credits. These are generated by initiatives that prevent these gases from being emitted or remove them. Thus, the credits work as a currency, and companies can buy them to offset operational emissions.<\/p>\n<p><strong>Translation by Guilherme Miranda<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brazil\u2019s oil giant has debuted in the market by acquiring 175,000 tons of avoided greenhouse gas emissions from a project that aims to protect the Amazon rainforest in western state Acre.<\/p>\n","protected":false},"author":2315,"featured_media":351101,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[46549,103],"tags":[3243,26155,28240,45086,45087,25813,29999,45088,36258,13548],"class_list":{"0":"post-358816","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-energy","8":"category-sustainability","9":"tag-amazon","10":"tag-amazon-rainforest","11":"tag-amazonia-en-2","12":"tag-carbon-credit-petrobras","13":"tag-carbon-credits","14":"tag-carbon-market","15":"tag-creditos-de-carbono-en","16":"tag-enfira-amazonia-project","17":"tag-mercado-de-carbono-en","18":"tag-petrobras-ar"},"wps_subtitle":"Brazil\u2019s oil giant has debuted in the market by acquiring 175,000 tons of avoided greenhouse gas emissions from a project that aims to protect the Amazon rainforest in western state Acre.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/358816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=358816"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/358816\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/351101"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=358816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=358816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=358816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}