Shell Invests USD40mn in carbon credit projects in Brazil

Shell has invested USD40mn into a Brazilian preservation-focused company. Carbon credit developer Carbonext runs preservation projects across more than 2mn hectares (4.9mn acres) of the Amazon Forest that are owned by companies seeking to capitalize on the carbon market. Carbonext then generates carbon credits that can be sold. Shell will now have preferential access to the company’s carbon market, although it will not receive discounted prices.