Two-thirds of the world's largest net-zero companies use "carbon offsets". The world's top fossil fuel producers, carmakers and technology firms have used tens of millions of carbon credits to claim they have "repeated" large chunks of their emissions in recent years, an analysis shows. Carbon Brief found that just 34 companies used the credits to offset 38 million tonnes of carbon dioxide (MtCO2) between 2020-2022, equivalent to the annual emissions of Ethiopia and Kenya combined. The top users of carbon credits – units that each represent one tonne of CO2 emitted, reduced or removed – were Shell (9.9 million units), Volkswagen (9.6 million) and Chevron (6.0 million). In theory, credits represent emissions savings made on behalf of the buyer – usually through renewable energy support or forest protection programs. (Josh Gabbatiss).