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Market
Corporate response to carbon credit purchases post-Shell scandal
5
Resolution / Starting Odds
Increase in scrutiny and due diligence • 33%
Decrease in carbon credits purchase • 33%
No significant change in behavior • 34%
Statements from major companies and industry reports
Story
Shell Accused of Selling 5.7 Million Fake Carbon Credits Over a Decade
May 6, 2024, 02:23 PM
Shell has been implicated in a significant scandal involving the sale of carbon credits. According to a Financial Times investigative report, for nearly a decade, Shell sold approximately 5.7 million carbon credits linked to CO2 removal projects that never actually occurred. These credits were sold to Canada's largest oil sands companies, casting doubts on the efficacy of a technology deemed crucial for reducing greenhouse gas emissions.
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Deny allegations • 33%
Admit to some wrongdoing • 33%
Remain silent • 34%
Deny any wrongdoing • 25%
Admit partial wrongdoing • 25%
Settle without admission of wrongdoing • 25%
No response • 25%
Deny involvement • 33%
Admit minor involvement • 33%
Admit significant involvement • 34%
Increase in sustainability initiatives • 33%
No significant change in operations • 33%
Increase in lobbying activities • 34%
Full cooperation • 25%
Partial cooperation • 25%
Non-cooperation • 25%
Legal challenge against the inquiry • 25%
Increase in compliance staff and measures • 25%
Public opposition or lobbying against the audits • 25%
Legal action taken against the IRS • 25%
No significant change • 25%
Public denial from all companies • 25%
Public denial from some companies • 25%
Admission from some companies • 25%
No public response • 25%
Increase in compliance departments • 25%
Restructuring of corporate assets • 25%
Legal challenges against the IRS • 25%
No significant change • 25%
Penalties Imposed • 33%
Warnings Issued • 33%
No Major Actions • 34%
No action taken • 33%
Fines imposed • 33%
Civil penalties imposed • 34%
New climate legislation passed • 25%
Existing climate laws strengthened • 25%
No significant change in climate laws • 25%
Climate laws weakened • 25%
Significant drop (>10%) • 25%
Moderate drop (5-10%) • 25%
Little to no change (<5%) • 25%
Increase • 25%