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.