Official Shell press releases, verified news sources

Shell Sold 5.7 Million Fake Carbon Credits Over Nearly a Decade

May 6, 2024, 02:23 PM

Shell has been implicated in a significant scandal involving the sale of 5.7 million carbon credits tied to CO2 removal that never actually occurred. This issue, which spans nearly a decade, involves transactions with Canada's largest oil sands companies. The credits, which were meant to represent actual reductions in CO2 emissions, are now under scrutiny, casting doubt on the effectiveness and integrity of carbon offset technologies crucial for mitigating greenhouse gas emissions. The findings were detailed in a Financial Times investigative report published last weekend.