Chevron Plans To Fund New Soil Carbon Capture Pilot And Blue Carbon Research Projects In Western Australia; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Chevron is set to fund a soil carbon sequestration pilot project led by Carbon Sync in Western Australia. The project will involve up to 80,000 hectares of the region's cropping and grazing area. The financial terms of the deal were not disclosed.
August 10, 2023 | 10:03 pm
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POSITIVE IMPACT
Chevron's funding of Carbon Sync's project could enhance its corporate responsibility image and potentially provide long-term benefits through carbon sequestration.
Chevron's investment in a carbon sequestration project aligns with global efforts to combat climate change. This could enhance its corporate image and potentially attract environmentally conscious investors, which may positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100