Major Oil and Gas Companies , Use Deception to Dodge , Climate Responsibility .<br />Gizmodo reports that big oil and gas companies have <br />been selling off polluting assets to no-name companies <br />as a sneaky way of hitting net-zero goals.<br />On May 11, the Environmental Defense Fund<br />released an analysis that highlights the dishonest means<br />of hitting net-zero goals and appearing greener on paper.<br />On May 11, the Environmental Defense Fund<br />released an analysis that highlights the dishonest means<br />of hitting net-zero goals and appearing greener on paper.<br />Companies like Shell, Exxon and Chevron have reportedly <br />offloaded gas and oil assets to smaller companies <br />that are not subject to oversight or public scrutiny.<br />Companies like Shell, Exxon and Chevron have reportedly <br />offloaded gas and oil assets to smaller companies <br />that are not subject to oversight or public scrutiny.<br />Companies like Shell, Exxon and Chevron have reportedly <br />offloaded gas and oil assets to smaller companies <br />that are not subject to oversight or public scrutiny.<br />Once these assets are sold, <br />years of [climate] progress <br />are reset instantly, Andrew Baxter, Director at EDF and one<br />of the analysis’ co-authors, via Gizmodo.<br />Once these assets are sold, <br />years of [climate] progress <br />are reset instantly, Andrew Baxter, Director at EDF and one<br />of the analysis’ co-authors, via Gizmodo.<br />According to Gizmodo, these smaller<br />companies typically ramp up production<br />which results in increased emissions.<br />Once you multiply this across potentially <br />hundreds of assets a year, year over year, <br />this is a really scary phenomenon with <br />negative environmental impacts, Andrew Baxter, Director at EDF and one<br />of the analysis’ co-authors, via Gizmodo.<br />In addition to the climate problem, <br />there’s a major disclosure problem that <br />undermines accountability in this space, Gabriel Malek, a project manager at EDF and one of the analysis’ co-authors, via Gizmodo.<br />In 2022, the International Energy Agency found that <br />the fossil fuel industry was pumping out 70% more <br />methane emissions than what official estimates showed.<br />The oil and gas industry can sell their <br />oil and gas assets for whatever reason <br />that they want, but they can’t <br />sell their climate responsibility, Andrew Baxter, Director at EDF and one <br />of the analysis’ co-authors, via Gizmodo
