Report reveals Chevron's carbon offsets are mostly ineffective and potentially harmful.

A new report by Corporate Accountability has found that 93% of the carbon offsets Chevron bought and counted towards its climate targets from voluntary carbon markets between 2020 and 2022 were too environmentally problematic to be classified as anything other than worthless or junk. Many of Chevron’s offset purchases focus on forests, plantations or large dams. Almost half of Chevron’s “worthless” offsets are also linked to alleged social and environmental harms – mostly in communities in the global south, which are also often the most affected by the climate crisis. Chevron’s net zero aspiration only applies to less than 10% of the company’s carbon footprint – the upstream emissions from the production and transport of oil and gas, while excluding downstream or end-use emissions from burning fossil fuels to heat homes, power factories and drive cars.