“Shell sold millions of carbon credits tied to CO₂ removal that never took place to Canada’s largest oil sands companies, raising new doubts about a technology seen as crucial to mitigating greenhouse gas emissions.
As part of a subsidy scheme to boost the industry, the Alberta provincial government allowed Shell to register and sell carbon credits equivalent to twice the volume of emissions avoided by its Quest carbon capture facility between 2015 and 2021, the province’s registry shows. The subsidy was reduced and then ended in 2022.
As a result of the scheme, Shell was able to register 5.7mn credits that had no equivalent CO₂ reductions, selling these to top oil sands producers and some of its own subsidiaries. Credits are typically equivalent to one tonne of CO₂.”