Shell greenwashed gas using "phantom" carbon credits | Shell used rice-farming offsets for “carbon neutral” LNG campaign – but farmers and local authorities said no project activities took place
Some are, some aren’t. The scientific community recognizes offsets in the form of financing the construction or maintenance of alternative energy systems. You can run a legitimately carbon neutral business with this model.
The problem is that something like 90% of the offsets are fake like this, and of the remaining ones, another 90% have a mismatch between how long gases emitted raise atmospheric concentrations and how long the offset lowers them for.