Energy giant Chevron to pay $ 184 million for breaking climate promises (LNG) pay to break the promise of carbon capture and storage. According to the requirements, businesses must buy $ 184 million in carbon credits, writes Reuters.
A carbon credit is a certificate or permit for the right to emit carbon dioxide or other greenhouse gases, created to reduce their production and slow climate change … Since the launch of the world's largest LNG plant near the Gorgon field in Western Australia, Chevron and its partners have captured far less carbon dioxide than their plan targets.
US venture will share costs with Exxon, Royal Dutch Shell as well as Japanese companies Osaka Gas, Tokyo Gas and JERA. The companies plan to pay off their debt to Australian regulators by mid-July 2022. Chevron said that $ 29 million will be invested in “low-emission projects” with the rest of the money spent on carbon credits.
Due to the lack of such certifications in the Australian market, Chevron is unlikely to meet its obligations to by the Australian authorities in this way. Therefore, the company said it would use other “internationally proven carbon offsets.”
In August, climatologists blamed US oil giant ExxonMobil for environmental neglect over a new project in Guyana, Africa. The company's activities can harm the ecology of the ocean and the state of fisheries in the country, on which the locals are very dependent.