Major Oil and Gas Companies Use Deception to Dodge Climate Responsibility

Major Oil and Gas Companies , Use Deception to Dodge , Climate Responsibility .

Gizmodo reports that big oil and gas companies have been selling off polluting assets to no-name companies as a sneaky way of hitting net-zero goals.

On May 11, the Environmental Defense Fund released an analysis that highlights the dishonest means of hitting net-zero goals and appearing greener on paper.

On May 11, the Environmental Defense Fund released an analysis that highlights the dishonest means of hitting net-zero goals and appearing greener on paper.

Companies like Shell, Exxon and Chevron have reportedly offloaded gas and oil assets to smaller companies that are not subject to oversight or public scrutiny.

Companies like Shell, Exxon and Chevron have reportedly offloaded gas and oil assets to smaller companies that are not subject to oversight or public scrutiny.

Companies like Shell, Exxon and Chevron have reportedly offloaded gas and oil assets to smaller companies that are not subject to oversight or public scrutiny.

Once these assets are sold, years of [climate] progress are reset instantly, Andrew Baxter, Director at EDF and one of the analysis’ co-authors, via Gizmodo.

Once these assets are sold, years of [climate] progress are reset instantly, Andrew Baxter, Director at EDF and one of the analysis’ co-authors, via Gizmodo.

According to Gizmodo, these smaller companies typically ramp up production which results in increased emissions.

Once you multiply this across potentially hundreds of assets a year, year over year, this is a really scary phenomenon with negative environmental impacts, Andrew Baxter, Director at EDF and one of the analysis’ co-authors, via Gizmodo.

In addition to the climate problem, there’s a major disclosure problem that undermines accountability in this space, Gabriel Malek, a project manager at EDF and one of the analysis’ co-authors, via Gizmodo.

In 2022, the International Energy Agency found that the fossil fuel industry was pumping out 70% more methane emissions than what official estimates showed.

The oil and gas industry can sell their oil and gas assets for whatever reason that they want, but they can’t sell their climate responsibility, Andrew Baxter, Director at EDF and one of the analysis’ co-authors, via Gizmodo