Shell, Europe’s largest oil company, has quietly shelved the world’s largest corporate plan to develop carbon offsets, after CEO Wael Sawan laid out an updated strategy for the company that included cutting costs and doubling down on profit centers (oil and gas) – which notably omitted any mention of the company’s prior commitment to spend up to $100 million per year to build a ‘pipeline’ of carbon credits as part of the firm’s promise to achieve ‘net zero’ emissions by 2050, Bloomberg reports.

https://www.zerohedge.com/political/shell-quietly-ditches-failed-carbon-credit-scheme