How Shell benefits from BeZero’s ratings and analytics to strengthen their carbon quality assessments
What they said
Enables triangulation between internal due diligence and external ratings
Helps challenge assumptions and build confidence in quality assessments
Analysis expands the tools available beyond internal capabilities
Scorecard provides insightful early indications of where unrated projects may stand
Article 6 Country Profiles support understanding of jurisdictional readiness and policy context
Christina Elvers Strategy Manager, Environmental Products Trading, ShellBeZero’s ratings and analytical tools complement our in-house due diligence. Triangulating what we see internally with BeZero’s independent assessments helps us challenge assumptions, refine our views on carbon project quality, and feel confident in the calls we make.
Challenge
Shell invests in high-quality carbon credits that align with their quality criteria and net-zero commitments. Assessing project quality requires robust due diligence, supported by deep expertise across climate science, methodologies, risk, and policy environments. To do this well at scale, Shell looks beyond internal analysis and checks independent, public, market-leading frameworks to validate and strengthen their assessments.
BeZero’s solution
BeZero’s ratings, Scorecard, and analysis tools provide independent perspectives that Shell use alongside their own due diligence. The ability to triangulate internal insights with BeZero’s external ratings helps them test and refine their assumptions, which further supports their decisions.
BeZero’s analysis goes beyond headline ratings, giving them access to additional tools and data. The Scorecard, in particular, is a practical way to approximate where a non-rated project might fall on quality metrics and determine whether it merits deeper pursuit.
Another valuable feature for Shell is BeZero’s Article 6 Country Profiles, which serve as helpful indicators of where countries stand in terms of policy, governance, and readiness under Article 6 of the Paris Agreement—an important component for market development and jurisdictional engagement. Shell’s team feed this information into their internal processes which includes experts in policy and advocacy, both globally, and in-country, for their work on Article 6 and CORSIA.
Impact
By integrating BeZero’s independent ratings and analytics with their internal processes, Shell can make more informed decisions on carbon project selection and portfolio strategy. The triangulation between internal due diligence and external ratings enhances their discipline and rigour when evaluating project quality.
The Scorecard tool enriches their early screening, helping to prioritise where they focus deeper analysis. Meanwhile, the country profile indicators support their understanding of jurisdictional risk and opportunity—critical as carbon markets and Article 6 mechanisms evolve.
Overall, collaborating with BeZero has strengthened Shell’s analytical toolkit, helping them navigate complex carbon markets and identify high-integrity opportunities.
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