this post was submitted on 08 May 2024
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Shell sold millions of carbon credits for carbon that was never captured, report finds (www.cbc.ca)
submitted 6 months ago by girlfreddy@lemmy.ca to c/canada@lemmy.ca
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Shell sold millions of carbon credits for reductions in greenhouse gas emissions that never happened, allowing the company to turn a profit on its fledgling carbon capture and storage project, according to a new report by Greenpeace Canada.

Under an agreement with the Alberta government, Shell was awarded two tonnes' worth of emissions reduction credits for each tonne of carbon it actually captured and stored underground at its Quest plant, near Edmonton.

This took place between 2015 and 2021 through a subsidy program for carbon, capture, utilisation and storage projects (CCUS), which are championed by the oil and gas sector as a way to cut its greenhouse gas emissions.

At the time, Quest was the only operational CCUS facility in Alberta. The subsidy program ended in 2022.

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[–] Perfide@reddthat.com 1 points 6 months ago

Not practically. You'd have to be replacing the trees faster than you chop them down just to account for the energy(and thus carbon) used to chop them and process them. Then there's the fact that decomposition will also release the carbon, so you HAVE to use the lumber for stuff that is intended to last at least as long the tree grew, or else that tree is still a net negative.