#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."
"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."
Staff at the UN-backed Science Based Targets initiative (SBTi), which certifies whether a company is on track to help limit global heating to under 1.5C, have called for the CEO and board members to resign after they announced plans to allow companies to meet their climate targets with carbon offsets.
Four banks quit initiative assessing #climate targets
"The lenders have abandoned efforts for the Science Based Targets Initiative (#SBTi) to validate their goals because of concerns it could hinder their ability to continue financing #FossilFuels, the sources said."
Um.
This shows two things:
SBTi is effective
You can tell exactly which banks are unwilling to close the #MoneyPipeline to the planet wreckers.