A year ago, Shell had big plans for its decarbonization. These plans included a sharp cut in oil and gas production and the development of a whole new business segment: carbon offsets. Now, Shell has not only abandoned its plan to reduce oil and gas production—and investment—without any fanfare, it has also quit its carbon offsets plan.
It was an ambitious plan. Per Bloomberg, Shell was going to invest $100 million annually in developing carbon sinks that would then yield some 120 million carbon credits, or offsets, annually, beginning…Investigation Into Carbon Offsets Forces Shell To Rethink Strategy
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