KUALA LUMPUR: Chevron Malaysia Limited (Chevron), which markets the Caltex retail brand in Malaysia, has launched its voluntary Caltex Carbon Offset Programme in the country.
The initiative enables Chevron to present consumers a way to take part in the carbon offset space.
The programme offers customers the opportunity to contribute towards carbon offsets projects by using their Caltex Rewards loyalty points earned from their fuel purchases.
Integrated into CaltexGO, Caltex’s mobile payment app, customers can easily opt-in to participate by selecting the Carbon Offset voucher in the Caltex Rewards voucher catalogue via the app.
In turn, Caltex will use these voluntarily contributed loyalty points to buy verified carbon offsets from environmental projects that reduce, remove, or avoid greenhouse gas (GHG) emissions — thereby offsetting a portion of certain carbon dioxide equivalent emissions from the combustion of fuel purchased by customers.
These carbon offsets are backed by the Verified Carbon Standard Program, a leading global independent carbon crediting programme.
Carbon offsetting involves compensating for emissions through investment in projects that reduce or capture an equivalent amount of such emissions elsewhere.
These projects include nature-based solutions such as tree-planting and reforestation efforts, renewable energy, and other lower carbon activities.
“Carbon offsets are just one part of Chevron's multi-pronged strategy to reduce our emissions intensity, and this initiative was designed to reinforce this strategy," said Chevron Malaysia country chairman Dean Gilbert.
"At the same time, we hope to catalyse wider positive change by offering our customers a mechanism to help them achieve their own emissions reduction goals. By fostering a collective effort, we aim to help advance a lower carbon future, and invite more individuals to join us on our journey towards achieving affordable, reliable and ever-cleaner energy to enable human progress.”
At present, Chevron is buying carbon offsets from two nature-based projects on the Verra registry:
> Rimba Raya Biodiversity Reserve Project (Indonesia)
Located in Kalimantan Indonesia, the Rimba Raya Biodiversity Reserve Project is one of the world’s largest initiatives to protect and preserve tropical lowland peat swamp forests.
> Reduced Emissions from Deforestation and Degradation in Keo Seima Wildlife Sanctuary (Cambodia)
Encompassing the Keo Seima Wildlife Sanctuary (KSWS) in eastern Cambodia, a haven for biodiversity, the project has thus far prevented the release of more than 20 million tonnes of CO2e emissions and saved 25,000 hectares of forest from destruction.
The Caltex Carbon Offset Programme was also launched in Singapore in March 2022, and has now made its way to Malaysia. Chevron said it will continue to explore ways of scaling up the initiative to other markets to make a greater impact.