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Thursday, July 18, 2024

Launch Partners

Arab Petroleum Investments Corporation signs US$75 million Murabahah agreement to fund voluntary carbon offsets; to develop projects worldwide

GLOBAL: The Arab Petroleum Investments Corporation (APICORP) has signed a US$75 million Murabahah agreement in favor of Hartree Parners Power & Gas Company (UK) to fund voluntary carbon offsets, a statement confirmed.

The facility will develop environmentally friendly projects worldwide with each carbon offset representing the ownership of one ton of carbon dioxide equivalent which offsets the holder’s corresponding emissions.

Hartree Partners Power & Gas Company (UK) is an affiliate of global energy and commodities firm Hartree Partners.

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