#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."
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.
"The draft cites cases where #CarbonCredits have failed to deliver the #climate benefits they tout.
Staff also reviewed evidence showing some schemes sell more carbon credits than the projects can deliver on, or exaggerate the emission reductions they achieve."
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