Lundin Energy AB  is claiming to have sold the world’s first oil cargo certified carbon neutral by a third party, according to a release by the company on April 26.

“We were the first company to have one of its field’s carbon emissions independently certified as low carbon, and this certified carbon neutral transaction with Saras, is the next stage in what we believe will become a key value differentiator for Lundin Energy,” Nick Walker, president and CEO of Stockholm-based Lundin Energy, in a statement.

The announcement is part of an emerging trend among oil and gas companies looking to differentiate their products as cleaner in response to increasing pressure by investors, activists and regulators demanding action on climate change.

Earlier this year, an affiliate of Houston-based Occidental Petroleum Corp. announced the delivery of two million barrels of oil produced in the Permian Basin also claimed by the company as “carbon neutral” to Reliance Industries in India. The sale of Occidental cargo, however, was not certified as carbon neutral by a third party.

More recently, U.S. shale gas producers, including EQT Corp. and Chesapeake Energy Corp., have announced pilot projects to have its natural gas production independently certified as “responsibly sourced.”

In an interview with Financial Times, EQT CEO Toby Rice said the decision to set their output apart from other gas producers would add “a few cents” to production costs, but he noted that the market would “dictate ultimately what they’re willing to pay for responsibly-sourced gas.”

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The carbon-neutral certification of the Lundin cargo,  produced oil from its Edvard Grieg Field offshore Norway, was provided by Intertek Group Plc and included exploration, development and Scope 1 and 2 emissions from production.

In order to supply a fully carbon-neutral barrel to sold to Italian refiner Saras SpA, Lundin said residual emissions of 2,302 tonnes CO₂ were compensated through a nature-based carbon capture project, certified by the “Verified Carbon Standard.”

“The provenance of a barrel and how it is produced is increasingly important, as society and industry require lower carbon feedstocks to achieve emission reduction targets and meet the goals of the Paris Agreement,” Walker continued in his statement. “This trade has been enabled by our industry leading decarbonization strategy and offers a proof point of where the crude market is heading and the potential value that can be realized through efficient, industry leading emissions reductions.”

Additionally, Lundin aims that every barrel of oil produced by the company, will be produced as carbon neutral starting in 2025, according to the April 26 release.

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