BP among founding members of World Bank carbon fund

The Forest fund is designed to pay developing countries for reducing emissions caused by the destruction of their forests. BP among founding members of World Bank carbon fundThe Forest fund is designed to pay developing countries for reducing emissions caused by the destruction of their forests

BP, responsible for the loss of around 5m barrels of oil in the Gulf of Mexico last year and annual carbon emissions greater than more than 120 developing countries put together, has become the world's first company to try to profit from a new World Bank carbon fund. The oil company joined Britain, Germany and Norway as well as the EU and NGO Nature Conservancy as founding members of a fund designed to pay developing countries for reducing carbon emissions caused by the destruction of their forests.

Source: The Guardian