Disney, Shell, Gucci Allegedly Used Worthless Carbon Credits As Top Certifier's CEO Resigns
Portfolio Pulse from Aveek Bhowmik
Verra's CEO David Antonioli has resigned following allegations that the organization approved millions of worthless carbon offsets used by major companies like Disney, Shell, and Gucci. The offsets were found to be largely worthless and could potentially worsen global warming. This has prompted calls for reform in the unregulated system.
May 24, 2023 | 11:02 am
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NEGATIVE IMPACT
Disney's use of worthless carbon offsets from Verra could damage its reputation and raise questions about its commitment to environmental responsibility.
Disney's involvement in using worthless carbon offsets could lead to negative public perception and potential backlash from environmentally conscious consumers. This may result in short-term negative impact on its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Shell's use of worthless carbon offsets from Verra could damage its reputation and raise questions about its commitment to environmental responsibility.
Shell's involvement in using worthless carbon offsets could lead to negative public perception and potential backlash from environmentally conscious consumers. This may result in short-term negative impact on its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50