Use loyalty points to offset a portion of certain carbon dioxide equivalent emissions from your fuel
Manila, Philippines February 06, 2024 – Chevron Philippines Inc. (CPI), marketer of the Caltex brand of fuels and lubricants, launches the Caltex Carbon Offset Program, a voluntary carbon offset program for Caltex service stations in the Philippines. The same program was launched in Malaysia and Singapore, in 2023 and 2022, respectively.
This initiative lets customers participate in efforts to offset a portion of certain carbon dioxide equivalent emission by contributing their Caltex Rewards points. Caltex Rewards members can participate by redeeming loyalty points in exchange for Carbon Offset vouchers on the CaltexGO app. These points can then be converted into cash value and used by Caltex and its affiliates to invest in verified sustainability projects.
All forms of refuelling vehicles, such as cars, trucks or motorcycles, Caltex customers can offset a portion of certain carbon dioxide equivalent emissions from the combustion of their fuel purchase by using their Caltex Rewards points.
A carbon offset is a reduction of greenhouse gas emissions by balancing one’s current carbon emissions through land conservation or restoration, sustainable energy investments and tree planting. Companies and individuals can purchase certificates by investing in activities that lower carbon dioxide (CO2) in the atmosphere.[i]
Chevron will invest the redeemed loyalty points’ equivalent value to two of its chosen carbon offset projects in Indonesia and Cambodia.
The Rimba Raya Biodiversity Reserve Project based in Central Kalimantan is a land preservation project that aims to reduce Indonesia’s emissions and preserve 64,000 hectares of tropical peat swamp forest. The biodiverse area is home to the endangered Bornean orangutan and is designed to protect the integrity of the world-renowned Tanjung Putting National Park. Go here for more information (https://registry.verra.org/app/projectDetail/VCS/674).
The Reduced Emissions from Deforestation and Degradation in Seima Protection Forest, Cambodia covers a protected area spanning more than 290,000 hectares. It is home to diverse wildlife and has prevented the release of more than 20 million tons of CO2 emissions. It has also saved 25,000 hectares of forest from destruction. Further, the project has created jobs and established an ecotourism venture to support the local community. Go here for more information (https://registry.verra.org/app/projectDetail/VCS/1650).
These projects have been registered, validated and verified by the Verified Carbon Standard (VCS) program, the world’s most widely used Greenhouse gases (GHG) crediting program.
“In 2022, Singapore launched Chevron’s lower carbon options for customers with the launch of the Caltex Carbon Offset Program. We have now launched the program in Malaysia and in the Philippines late last year. We are driving energy progress essential to a growing, dynamic world while listening to customer feedback,” shares Billy Liu, CPI Country Chairman.
The Caltex Carbon Offset Program, along with other carbon reduction projects, is part of Chevron’s net zero aspiration for equity upstream Scope 1 and 2 emissions by 2050.
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