ENGIE, a leader in the transition to net zero energy, will secure 5 million tons of carbon removal through nature-based solutions from Catona, a climate finance company, by 2039.
This partnership sets a new benchmark for carbon reduction efforts by combining emission cuts in line with scientific targets and the removal of legacy emissions through impactful carbon capture projects.
The agreement also demonstrates how long-term contracts can attract investment in natural carbon removal solutions, thereby expanding the market.
Jérôme Malka, Executive Committee member at ENGIE‘s business entity ‘Global Energy Management & Sales’ commented, “Now is the time to accelerate the energy transition, and while we must all focus on reducing carbon emissions, reaching Net Zero will imply removing unavoidable emissions. Promoting the development of high-quality nature-based carbon removal projects will contribute to decarbonizing our client’s businesses and help the Engie group reach its Net Zero objective across all 3 scopes by 2045.”