Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless

British multinational to spend huge sums on schemes that do not bring genuine carbon reductions, analysis shows

More than 90% of rainforest carbon offsets by biggest provider are ‘worthless’Greenwashing or a net zero necessity? Scientists on carbon offsettingCarbon offsets flawed but we are in a climate emergency

The fossil fuel firm Shell has set aside more than $450m (£367m) to invest in carbon offsetting projects, and plans to buy the equivalent of half the current market for nature offsets every year, the Guardian can reveal.

But a joint investigation by the Guardian, Die Zeit and Source Material into Verra, the world’s leading carbon standard for the rapidly growing $2bn voluntary offsets market, has found, based on analysis of a significant percentage of the projects, that more than 90% of their rainforest offset credits – among the most commonly used by companies – are likely to be “phantom credits” and do not represent genuine carbon reductions.

Continue reading…

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

@JeannetHuizing

RT @AustCCR: The fossil fuel firm @Shell has set aside more than $450m (£367m) to invest in carbon offsetting projects. Schemes that do not…

Posted on: 2023-01-29 14:41

@susshadley1

RT @CodeRedEarth: Boy this carbon offsetting is being revealed to be quite an ecocidal scam. Kewl that journalists did a joint investigat…

Posted on: 2023-01-28 04:08

@IonaThomson14

Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless https://t.co/I2kbxUqqWX

Posted on: 2023-01-27 11:29

@MrJackLowe

“Shell […] plans to ramp up spending on measures to counterbalance its polluting activities in an effort to decarbo… https://t.co/yjhSAF06jX

Posted on: 2023-01-27 11:21

@Timingisevery10

Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless https://t.co/yIAnnUKurT

Posted on: 2023-01-27 03:49

@TunstallAsc

90% is the carbon offset projects supported by Shell are fantasy, why am I not feeling surprised https://t.co/BUv1nT1qkJ

Posted on: 2023-01-27 03:25

@IonaThomson14

RT @CodeRedEarth: Boy this carbon offsetting is being revealed to be quite an ecocidal scam. Kewl that journalists did a joint investigat…

Posted on: 2023-01-26 13:12

@Pablo_Negret

and another interesting read; https://t.co/NYVhmVi8e0

Posted on: 2023-01-26 00:06

@sarmcbride

RT @CodeRedEarth: Boy this carbon offsetting is being revealed to be quite an ecocidal scam. Kewl that journalists did a joint investigat…

Posted on: 2023-01-25 20:43

@Neil275

Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless https://t.co/7l0HYfuI8R

Posted on: 2023-01-25 20:03

@Neil275

https://t.co/DyZtwTirH3 They know it can't go on but carbon credits are not the solution. https://t.co/9iFXMeg5z0

Posted on: 2023-01-25 19:59

@Cythemadim

RT @CodeRedEarth: Boy this carbon offsetting is being revealed to be quite an ecocidal scam. Kewl that journalists did a joint investigat…

Posted on: 2023-01-25 18:59

@ElizabethMay

RT @CodeRedEarth: Boy this carbon offsetting is being revealed to be quite an ecocidal scam. Kewl that journalists did a joint investigat…

Posted on: 2023-01-25 12:39

@ARG23309268

RT @CodeRedEarth: Boy this carbon offsetting is being revealed to be quite an ecocidal scam. Kewl that journalists did a joint investigat…

Posted on: 2023-01-25 05:38

@AFCA_Forests

RT @FoEint: Among those heavily betting on the smokescreen of carbon markets & offsets, @Shell “has set aside more than $450m (£367m) to in…

Posted on: 2023-01-25 00:27

@dudly_mohr

RT @great_thunberg: Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless https://t.co/yUysqKhf1g

Posted on: 2023-01-24 21:09

@melville_iain

RT @CodeRedEarth: Boy this carbon offsetting is being revealed to be quite an ecocidal scam. Kewl that journalists did a joint investigat…

Posted on: 2023-01-24 10:17

@dingbatty78

RT @CodeRedEarth: Boy this carbon offsetting is being revealed to be quite an ecocidal scam. Kewl that journalists did a joint investigat…

Posted on: 2023-01-24 10:11

@DDolaard

RT @FVReclame: Carbon offsetting werkt niet. #Shell is ondertussen van plan de helft van de huidige carbon markt op te kopen, zodat ze duur…

Posted on: 2023-01-24 09:32

@Fossielvrij070

RT @FVReclame: Carbon offsetting werkt niet. #Shell is ondertussen van plan de helft van de huidige carbon markt op te kopen, zodat ze duur…

Posted on: 2023-01-24 09:30

@Sara_Stith

Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless https://t.co/iANWXKs5X7

Posted on: 2023-01-24 06:35

@hingehead

@GuardianAus Carbon offsets that are largely discredited? https://t.co/cVzehsGuWi

Posted on: 2023-01-24 03:39

@mediafrendzee

RT @IonaThomson14: Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless https://t.co/I2kbxUqqWX

Posted on: 2023-01-24 01:08

@BadawiLeila

RT @IonaThomson14: Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless https://t.co/I2kbxUqqWX

Posted on: 2023-01-23 22:06

@rk70534

RT @IonaThomson14: Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless https://t.co/I2kbxUqqWX

Posted on: 2023-01-23 21:34

@Karin_de_Vos

RT @AustCCR: The fossil fuel firm @Shell has set aside more than $450m (£367m) to invest in carbon offsetting projects. Schemes that do not…

Posted on: 2023-01-23 21:13

@Klimaatzuster

RT @AustCCR: The fossil fuel firm @Shell has set aside more than $450m (£367m) to invest in carbon offsetting projects. Schemes that do not…

Posted on: 2023-01-23 21:12

@billmar28626612

RT @IonaThomson14: Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless https://t.co/I2kbxUqqWX

Posted on: 2023-01-23 19:21

@TonyNicol3

RT @IonaThomson14: Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless https://t.co/I2kbxUqqWX

Posted on: 2023-01-23 19:04

@BecketFilms

RT @CodeRedEarth: Boy this carbon offsetting is being revealed to be quite an ecocidal scam. Kewl that journalists did a joint investigat…

Posted on: 2023-01-23 18:03

@sj_rudolphi

RT @CodeRedEarth: Boy this carbon offsetting is being revealed to be quite an ecocidal scam. Kewl that journalists did a joint investigat…

Posted on: 2023-01-23 15:15

@Yogablackbelt

RT @IonaThomson14: Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless https://t.co/I2kbxUqqWX

Posted on: 2023-01-23 15:02