About three weeks after Shell, Europe’s largest oil company, quietly shelved the world’s largest corporate plan to develop carbon offsets, the world’s number four iron ore producer, Fortescue Metals Group Ltd., has decided to end purchases of voluntary carbon offsets.

This comes as at least one major study has revealed carbon offsets are prone to ‘greenwashing’ and most credits don’t actually benefit the climate.

Recall Elon Musk tweeted one year ago, “ESG is a scam. It has been weaponized by phony social justice warriors.”

https://www.zerohedge.com/markets/backfire-worlds-fourth-largest-iron-ore-producer-stops-purchasing-carbon-offsets