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Patrick Boyle On Finance
Shell's Fake Carbon Credit Scandal Explained!
May 12, 2024
Explore the controversy of Shell selling fake carbon credits, the financial aspects of carbon capture projects, challenges of quantifying carbon credits, discussing externalities and the Coase Theorem in economics, and navigating complexities in carbon markets.
30:01
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Quick takeaways
- Carbon offset projects face skepticism on their environmental benefits and challenges in delivering intended impact.
- Shell's controversy over selling fake carbon credits highlights issues in the carbon credit system and potential job displacement.
Deep dives
The Evolution of Carbon Offsets
Carbon offsets emerged in 1989 as a concept to offset carbon emissions without direct reduction efforts. Initially, a company sought to plant 50 million trees to absorb CO2 emissions but later opted to pay Guatemalan farmers to plant trees. This practice expanded globally, allowing polluting businesses to fund green projects to compensate for their emissions.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode