Shell Exits Carbon Offset Market: A Pivot for Strategic Shift [Yahoo! Finance]
Enerflex Ltd Common Shares (EFXT)
Company Research
Source: Yahoo! Finance
The strategic move aligns with the CEO, Wael Sawan's focus on fossil fuel energy that provides higher returns. Although the company once aimed for significant growth with these low-carbon projects, it now wants to shift away from operations that don't provide a strategic advantage and premium returns, such as offshore wind energy projects. SHEL launched its portfolio of carbon offsets in 2018 with the target of achieving 120 million carbon credits annually. Within three to four years, SHEL became the world's largest buyer of carbon credits. Once an attractive avenue for climate change, the carbon offset market started facing challenges recently.The spot prices for REDD+ credits dropped from $12.50 per credit in 2022 to $3.60 in 2023. The reasons for the decline are reduced demand and uncertainty about the environmental impact of some projects. Despite the hurdles, the voluntary carbon market is projected to rise to $950 billion by 2037 from its current $2 billion value. However,
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News
- Are You Looking for a Top Momentum Pick? Why Enerflex (EFXT) is a Great Choice [Yahoo! Finance]Yahoo! Finance
- Monday's analyst upgrades and downgrades [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Enerflex Ltd. (NYSE: EFXT) had its price target raised by analysts at Royal Bank of Canada from $9.00 to $12.00. They now have an "outperform" rating on the stock.MarketBeat
- Enerflex Ltd (EFXT) Q3 2024 Earnings Call Highlights: Strong Operational Performance and ... [Yahoo! Finance]Yahoo! Finance
- Shell Wins Appeal Against Earlier Court Ruling to Cut Emissions [Yahoo! Finance]Yahoo! Finance
EFXT
Sec Filings
- 11/14/24 - Form SC
- 11/14/24 - Form 6-K
- 11/14/24 - Form SC
- EFXT's page on the SEC website