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Chevron

Climate warning

Chevrons carbon offsets are ”mostly junk”

The fossil fuel company Chevron relies on “junk” carbon offsets which are so bad, that in some cases they may actually cause communities harm, according a new report.
Corporate Accountability, a transnational corporate watchdog, has published a new investigation that shows that 93% of the offsets Chevron bought as part of its climate targets between 2020 and 2022 were too environmentally problematic to be classified as anything other than worthless or junk.
The report concludes that ”a major proportion of the schemes it’s investing in as part of its ‘net zero’ plan are linked to claims of local community abuse, environmental degradation, and/or may even be fueling further emissions. Almost all of the harm claimed to have been inflicted is on communities in the Global South.”
Chevron – infamous for continuously lobbying against a green transition – has said that it “aspires” to achieve net zero upstream emissions by 2050. To do this, it is mostly relying on carbon offset schemes – environmental projects meant to cancel out its greenhouse gas emissions – and carbon capture and storage (CCS) technologies.
According to @the_guardian, Chevron reported $35.5bn in profits last year, and is the US’s second-largest fossil fuel company.
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Chevron

59 w

The cited report is biased against our industry and paints an incomplete picture of Chevron’s efforts to advance a lower carbon future. Chevron supports offsets as part of that effort and views them as an important market-based approach to efficient carbon reductions. The majority of the offsets referred to in the report are compliance-grade offsets accepted by governments in the regions where we operate. Chevron’s recently published Corporate Sustainability Report and latest Climate Change Resilience Report offer a more complete view of the many ways we are working constructively to offer solutions for a lower carbon future. Bill Turenne, Jr. External Affairs Advisor Chevron

5
  • mary Mwihaki

    16 w

    Chevron should change its strategies and ensure that it reduces carbon affset

    2
    • Daren Redman

      16 w

      This is true. "A recent investigation by the NGO Corporate Accountability concluded that at least 93% of credits used by Chevron in 2020-2022 – including those from Colombian projects identified in this analysis – were likely “junk”. offsets accepted by governments in the regions where we operate”." https://interactive.carbonbrief.org/carbon-offsets-2023/companies.html

      2
      • Carin Marie Lundgren-Andersson

        58 w

        It's no use for any struggle and nothing to look forward to in these antifuture era- when new lifes is nothing but food

        4
        • Njugi Muikamba

          58 w

          Greenwshing has been overtaken by events.

          5
          • Collins Akak

            58 w

            Chevron change your ways to lead the climate conditions to a better place

            7
            • Damodar Prabhu Panemangalore

              58 w

              is the report attached the full report or there any other document?

              4
              • Chevron

                59 w

                The cited report is biased against our industry and paints an incomplete picture of Chevron’s efforts to advance a lower carbon future. Chevron supports offsets as part of that effort and views them as an important market-based approach to efficient carbon reductions. The majority of the offsets referred to in the report are compliance-grade offsets accepted by governments in the regions where we operate. Chevron’s recently published Corporate Sustainability Report and latest Climate Change Resilience Report offer a more complete view of the many ways we are working constructively to offer solutions for a lower carbon future. Bill Turenne, Jr. External Affairs Advisor Chevron

                5
                • Ingmar Rentzhog

                  58 w

                  @Chevron Thanks for answering. I have a follow-up question. How big % of your turnover is about climate solutions for a lower carbon future?

                  12
                  • Markus Lutteman

                    58 w

                    Hi Bill at @Chevron. Thank you so much for replying to my climate reviews and joining the dialogue. I notice that you use the words ”biased” and incomplete” in response to my climate warming, which means you do not disagree with the fact that your offsets are indeed very problematic. I have read your sustainability report, and I have to say it fails to impress me. It is obvious that you intend to keep oil and gas as your core products for a foreseeable future, in total disregard for science and the future of mankind. (Just the fact that you are illustrating the headline ”future of energy” with a fossil gas rig tells me that you have a long way to go.) But it’s not too late to change course. Chevron could be such an important player in the green transition. You have the money, the power, the brains, the knowledge, and the infrastructure to create large-scale positive change. You still have the chance to be on the right side of history, instead of being looked upon as one of the main destructors of human progress. To be part of the solution, instead of the problem. So what do you say? Time to change course, and start working for a green, clean and prosperous future for humanity? We'd love to have you with us.

                    18
                    • Professor Aniebiet Inyang Ntui

                      58 w

                      @Chevron @BillTurenneJr, your attempt to brush off the cited report as biased without providing evidence is just another example of PR spin. It's clear that Chevron's support for offsets and acceptance of compliance-grade offsets are insufficient in addressing the urgent need for real emissions reductions. This approach allows Chevron to continue emitting greenhouse gases instead of implementing concrete measures to transition to renewable energy and invest in clean technologies. Your offset projects have long been criticized for their ineffectiveness in delivering genuine climate benefits. By relying on offsets, Chevron is essentially using them as a smokescreen to create the illusion of progress while sidestepping its own responsibility to reduce its carbon footprint. It's time for Chevron to stop greenwashing and start taking meaningful action to combat climate change. Furthermore, mentioning Chevron's Corporate Sustainability Report and Climate Change Resilience Report as offering a more complete view is nothing more than a distraction tactic. These reports are often criticized for their lack of transparency and failure to address the severity of Chevron's environmental impact. As a climate advocate, I urge Chevron to go beyond empty words and PR tactics. It's time for Chevron to prioritize sustainability, invest in renewable energy, and genuinely contribute to a lower carbon future. The world cannot afford to settle for half-hearted efforts when the consequences of climate change are already being felt. #ClimateAction #Greenwashing cc. @IngmarRentzhog, @markus_lutteman_141

                      19
                      • Catarina Rolfsdotter-Jansson

                        58 w

                        @Chevron please respond to the questions and statements below. You are adressing a huge and influential audience on this platform. which have the future of coming generations in mind.

                        10
                        • Chevron

                          58 w

                          @Rentzhog I believe the answer to your follow up question can be found on page 15 or our Corporate Sustainability Report (https://www.chevron.com/-/media/shared-media/documents/chevron-sustainability-report-2022.pdf). Optimizing carbon reduction opportunities We seek to optimize carbon intensity reduction opportunities for our assets and operations by leveraging our cross-functional capabilities and using the MACC process. This approach provides Chevron with a methodology to identify and prioritize a portfolio of GHG abatement opportunities across operations. Utilizing this process, we identified over 120 reduction projects for development and plan to spend more than $350 million on these projects in 2023. In 2022, we made progress on 90 projects and completed 13. We expect to spend approximately $2 billion total on similar projects through 2028.

                          4
                          • Ingmar Rentzhog

                            58 w

                            @Chevron Thanks. I was curious about the % of your operation that you invest in green technology. 2 billion sounds a lot, but is it a big investment compared to your total turnover? I saw this graph from IEA the other day about oil companies, in general, spending a very low share of their profits on green tech. It was an eye-opener for me. https://www.linkedin.com/posts/alessandro-blasi-6579a66_oilgas-oilandgas-business-activity-7068901544665980928-P0T0?utm_source=share&utm_medium=member_desktop I was curious about if Chevron did better than the average in big oil or not. Thanks again for participating in our dialogue.

                            9
                            • Sandra Harris

                              58 w

                              @Chevron with respect and thank you for participating in this discussion. Climate change/chaos doesn't care about your business process or your bottom line. It's here and it's lethal. The only science I trust is independent of corporate influence. We're engaged. We're informed. We can't back down. Our children's and grandchildren's futures depend on us.

                              6
                              • Virendra Rawat

                                57 w

                                @Chevron We are sharing the Green offsets earned by Students in Schools and Universities. Would you like to buy from Green offsets from Students?

                                4
                                • okezie orji

                                  56 w

                                  Chevron does business in regions with low grade political leadership and don't consider the host communities and the environment. Drive for maximum returns is usually paramount.

                                  5
                                  • Daren Redman

                                    16 w

                                    @Chevron I learned a new word, greenwashing. Which you all are doing. https://www.menloschool.org/live/profiles/1174-should-chevron-be-held-accountable-for

                                    1
                                  • Harrison wambui

                                    59 w

                                    Chevron should change the strategy to reduce carbon emissions

                                    17
                                  • Edwin wangombe

                                    59 w

                                    This is really unfortunate... @Chevron should change its strategies and ensure that it reduces is ts carbon offset

                                    10
                                    • Peter Kamau

                                      59 w

                                      Surely!!How has this been happening in the eyes of agencies tasked with tackling greewashing issues?

                                      15
                                      • Jane Wangui

                                        55 w

                                        @peter_kamau they are turning a blind eye.

                                        4
                                      • Patrick Kiash

                                        59 w

                                        I detest their greenwashing schemes all the time.

                                        15
                                        • Sarah Chabane

                                          59 w

                                          Chevron is not a climate clown 🤡 but the whole circus 🎪

                                          24
                                          • Ford Brodeur

                                            59 w

                                            Chevron 🤝 bad decisions

                                            10
                                            • Tabitha Kimani

                                              59 w

                                              Many companies benefiting from fossil fuels really do not care about the climate change. Its just not part of their core concerns but they have to be forced to care.

                                              24
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