Skip to main content

#Shell sold millions of 'phantom' #CarbonCredits to Canadian oil sands firms - FT

"Shell sold millions of carbon credits tied to CO2 removal that never took place to #Canada's largest oil sands companies, Financial Times reported Sunday, raising new doubts about a technology seen as important in reducing greenhouse gas emissions."

https://seekingalpha.com/news/4100535-shell-sold-millions-of-phantom-carbon-credits-to-canadian-oil-sands-firms-ft

#canada #shell #carboncredits
in reply to CelloMom On Cars

CelloMom On Cars
CelloMom On Cars
• •

Shell operates Quest, a "carbon storage" facility in Alberta. Alberta allowed Shell to register twice as many carbon credits as they actually stored, which it sold to other fossil fuel companies as indulgences. Without actually storing half of the carbon covered by the credits.

As @davidho says, "#CarbonCapture" is mostly designed to capture government subsidies.

https://www.ft.com/content/93938a1b-dc36-4ea6-9308-170189be0cb0

Shell sold millions of ‘phantom’ carbon credits

Subsidy scheme in Alberta allowed oil major to register carbon credits equivalent to twice the volume of CO₂ captured
Financial Times
#carboncapture @David Ho
⇧