Climate activists have been vocal about the goal of carbon credits, stating that their use would give oil companies a 'carte blanche' to continue business as usual.
Just a year ago, carbon credits were all the rage. Companies struck deal after deal in a market that analysts said would grow at breakneck speed. Then, it all started unwinding. Because Big Oil was using carbon credits , too. Apparently, it wasn’t supposed to go this way. Back in 2022, Shell said it would invest some $100 million in developing what are commonly called carbon sinks or ecosystems that absorb more carbon dioxide than they emit—if they emit any at all.
don’t shut down an avenue for channelling that carbon finance,” the head of BP’s carbon trading business unit said in comments on the UN document at the time. Now, Bloomberg is reporting that Big Oil has become the ultimate winner from that carbon credit market that the UN so dislikes.
Carbon Credits Energy Oil Emissions Climate Change Activists
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