Big Oil likely the major winner on carbon credit expansion

Although many oil majors have made climate pledges, those promises invariably remain unfulfilled. — Bloomberg

New York: The prime beneficiaries of plans to allow corporations more licence to use carbon credits to cut total emissions may end up being the main perpetrators of the global climate disaster: oil and gas companies.

The fossil-fuel industry is “the elephant in the room when we talk about Scope 3 emissions”, according to Catherine McKenna, Canada’s former minister of environment and climate change.