ExxonMobil Among Buyers Hit By German Carbon Credit Revocations

German authorities have revoked carbon credits from 30 China-based upstream emissions reduction projects after investigations questioned whether the claimed reductions were delivered. The projects represented 2.1 million tonnes of CO2 reductions, equivalent to the emissions of roughly 500,000 cars. ExxonMobil was among the affected buyers: one project financed through its Belgian entity claimed nearly 96,000 tonnes, with credits valued at €4.2 million. A German Environment Agency report identified 45 suspicious projects, naming consultancy Beijing Karbon as the principal developer and alleging that deception created the appearance of legitimate projects. Three European auditing firms—TÜV Rheinland, Müller-BBM Cert and Verico SCE—had verified some of the questioned activities. Credits from the projects were sold in at least nine European countries. Companies holding revoked units must cover the resulting compliance shortfalls. Investigations remain ongoing: information concerning 24 invalidated projects was redacted, while revocation decisions for six projects are final.
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