The Oil Invest Company has announced a collaboration with Tripoli General Services to plant one million Aleppo pine and cypress trees in Tripoli, Libya.
The project will cover 1,450 hectares of land owned by the General Services Company in the capital, home to 3 million residents.
This partnership aims to generate carbon credits, contributing to the Oil Invest Company’s commitment to mitigating climate change while combatting the adverse effects of deforestation and desertification.
Oil Invest aspires to become a zero-emission energy company by 2050, aligning with the Paris Climate Agreement’s goal of limiting temperature increases to below 1.5 degrees Celsius.
Headquartered in The Hague, Netherlands, the group operates its refinery and numerous storage, blending, and loading facilities. With over 2,400 fuel stations, it markets more than 10 million tons of fuel products annually across five European regions: Germany, Italy, the Netherlands, Spain, and Switzerland.
David Petzold, Director of Strategy at the Oil Invest Company, expressed the company’s commitment to sustainability and environmental responsibility through this collaboration.
He emphasised their investment in modern technologies and innovative solutions to reduce carbon footprint. He stated that nature-based projects like this one capture residual emissions, providing carbon credits.
Mohamed Ismail, CEO of Tripoli General Services, highlighted the significance of tree planting in addressing environmental challenges.
Neglecting tree planting and urban development are critical factors contributing to reduced rainfall and desertification, he said.
The project, starting in the first quarter of 2024, will begin with planting on an initial 450 hectares, equipped with an irrigation system, expanding in stages to cover the remaining 1,000 hectares. When fully grown, estimates suggest that one million trees can absorb over 10 million kilograms of carbon dioxide annually.