Stolt Tankers invests in reforestation projects as part of decarbonization drive
Stolt Tankers Joint Service (STJS) Pool, together with its partners NYK Line, Tufton, and Farvatn Capital, have donated $100,000 to One Tree Planted and We Forest, two non-profit organisations that focus on managing reforestation, carbon absorption and environmental impact projects.
The donation reflects Stolt Tankers’ broader ambition to reduce its own carbon intensity by 50% by 2030 (relative to 2008) and to become a fully carbon-neutral business by 2050, Norwegian tanker operator said.
The STJS Pool is the first tanker pool to implement a Green Bunker Procurement Fund with proceeds fully dedicated to carbon reduction, fuel efficiency and environmental initiatives.
“I am pleased to make this $100,000 donation jointly with our partners NYK, Tufton, and Farvatn and believe addressing the many aspects of decarbonisation in shipping requires an all hands-on-deck approach,” Lucas Vos, President of Stolt Tankers noted.
“This contribution demonstrates our mutual commitment to addressing the climate challenges of today, and tomorrow, by supporting reforestation and ocean mangrove ecosystems. We hope our support will make an impact by both capturing carbon and helping the communities and ecosystems on the front line of climate change.”
In total, three projects will be supported by the companies’ donations. The first project is led by We Forest and focused on reforestation of the Desa Forest in Northern Ethiopia.
The partners are also supporting We Forest on their Philippines’ Indigenous Bamboo and Native Tree Reforestation project which will remove 500,000 tonnes of CO2 from the atmosphere.
Lastly, Stolt Tankers and its partners will be supporting One Tree Planted on its Pacific Northwest reforestation project which plants trees alongside rivers and streams to improve water quality and ultimately the health and quantity of salmon to support wild orca populations.
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