Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Selling Net-zero Pipe Dreams – Fossil Fuels Cannot Be Carbon Neutral, New Investigation Shows

A growing number of oil and gas companies are selling fossil fuels they market as “carbon neutral”. A Carbon Market Watch investigation has thoroughly investigated these claims and concluded that they amount to brazen greenwashing. Due out ahead of the COP26, the report challenges governments and industry to commit to binding fossil fuel phaseouts.

On 25 October 2021, Carbon Market Watch will release a new investigation titled ‘Net-zero pipe dreams: Why fossil fuels cannot be carbon neutral’. The report explores a new trend in which fossil fuel companies have been marketing gas and oil shipments as “carbon neutral”, sometimes even selling them at a premium.

How can carbon-intensive fossil fuels be made carbon neutral, you may wonder? 
These companies typically say they offset an undisclosed amount of emissions using an undisclosed amount of carbon credits they have purchased from undisclosed projects. Assessing the value and validity of these questionable claims required considerable sleuthing.
The firms involved include such big names as Shell, Total, BP, Gazprom and PetroChina. The so-called carbon-neutral fossil fuels have been dispatched to markets as diverse as the UK, China, Japan, Mexico, India.

But do these supposedly net-zero emission fossil fuels live up to the corporate hype?
Our investigation of 18 such deals shows conclusively that these carbon-neutrality claims are little more than marketing gimmicks and amount to greenwashing.

“Illusory, opaque and baseless claims of ‘carbon-neutral’ fossil fuels overtly defy science and reason,” says Carbon Market Watch’s Jonathan Crook, the lead author of the report. “This is nothing more than a desperate and shameless attempt by oil and gas majors to keep business-as-usual activities and hoodwink the public.”

“At COP 26, governments must keep 1.5°C alive by committing to clear and binding fossil fuel phase-out plans that will nip this kind of greenwashing in the bud,” Crook urges.

The full findings, conclusions and recommendations of ‘Net-zero pipe dreams: Why fossil fuels cannot be carbon neutral’ will be available on Carbon Market Watch’s website on Monday 25 October at midnight.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Dairy NZ: ‘More Milk From Fewer Cows’ Trend Continues In A Record Year
Vodafone says it has 10,000 customers using its Wi-Fi Calling service. It took less than three months to reach that milestone; the service began operating in September... More>>

Statistics: Consents Remain At Record Levels
There were 47,715 new homes consented in the year ended October 2021, up 26 percent compared with the year ended October 2020, Stats NZ said today. "The year ended October 2021 marks another record for the annual number of new homes consented,” construction statistics manager Michael Heslop said... More>>



Foodstuffs: New World & Four Square Trial NZ’s First Grocery Delivery Offer With Uber Eats

New World & Four Square have partnered with Uber Eats to unlock the first grocery offering available on the platform in Aotearoa. For New World and Four Square it’s yet another way to put New Zealanders first, particularly with those inevitable last-minute grocery needs... More>>


Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts

New Zealand’s extinct Haast’s Eagle (Hieraaetus moorei), the largest known eagle, gulped down viscera like a vulture and may even have been bald, new research suggests... More>>

ABC Business Sales: Demand High For Covid-proof Businesses
Despite the continuing challenges facing businesses in this Covid environment, right now there are more buyers looking for a small-medium sized business than there are sellers in the market... More>>


PriceSpy: Producer Prices Increase
New Black Friday and Covid-19 Report* released by PriceSpy says people’s fear of stepping inside physical shops during big sales events like Black Friday has risen since last year; Kiwis are still planning to shop, but more than ever will do it online this year... More>>

NZ Skeptics Society: Announce Their 2021 Awards, And Dr Simon Thornley Wins The Bent Spoon

Every year the New Zealand Skeptics presents its awards to people and organisations who have impressed us or dismayed us, and this year it’s been hard to pick our winners because there have been so many choices!.. More>>