Shell sets bolder emissions goal even as virus hits


  • Energy
  • Friday, 17 Apr 2020

“Society’s expectations have shifted quickly in the debate around climate change. Shell now needs to go further with our own ambitions, ” chief executive officer Ben van Beurden said in a statement yesterday.

LONDON: Royal Dutch Shell Plc plans to eliminate all net emissions from its own operations and the bulk of greenhouse gases from fuel it sells to customers by 2050.

The energy giant is following in the footsteps of its peers BP Plc and Repsol SA, which have already set similar targets. Shell’s move indicates that, despite the turmoil caused in the industry by the coronavirus, major oil and gas companies aren’t abandoning the transition to cleaner energy.

“Society’s expectations have shifted quickly in the debate around climate change. Shell now needs to go further with our own ambitions, ” chief executive officer Ben van Beurden said in a statement yesterday.

“Even at this time of immediate challenge, we must also maintain the focus on the long term.”

Shell aims to have net-zero emissions from its own operations, a category known as scope one and two, by 2050. It also intends to reduce the net carbon footprint of the energy products it sells to customers, so-called scope three emissions, by around 30% by 2035 and 65% by 2050.

“This announcement significantly increases Shell’s ambitions and commitments, ” said Adam Matthews, director of ethics and engagement of the Church of England Pensions Board, which has been pressing oil companies to do more to curb emissions. —Bloomberg

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