Shell updates investors on plans to become net-zero by 2050

 

“With the COVID-19 pandemic having a serious impact on people’s health and our economies, these are extraordinary times. Yet even at this time of immediate challenge, we must also maintain the focus on the long term,” said Ben van Beurden, Chief Executive Officer of Royal Dutch Shell.

“Society’s expectations have shifted quickly in the debate around climate change. Shell now needs to go further with our own ambitions, which is why we aim to be a net-zero emissions energy business by 2050 or sooner. Society, and our customers, expect nothing less.”

“This announcement significantly increases Shell’s ambitions and commitments,” said Adam Matthews, Director of Ethics and Engagement of the Church of England Pensions Board, Board Member of the Institutional Investors Group on Climate Change, and Co-lead as part of the Climate Action 100+ dialogue with Shell. “It is indicative of Shell’s confidence in not only navigating the immediate situation but rightly sets the focus on developing net-zero pathways in key sectors that shape the demand for energy. Ultimately, it will be by developing and supporting net-zero pathways in these sectors that we will achieve the goals of the Paris Agreement.”

Peter Ferket, Chief Investment Officer of Robeco, Co-lead as part of the Climate Action 100+ dialogue with Shell, said: “These new ambitions build on the 2018 joint statement between Shell and Climate Action 100+. It proves that the strong and committed engagement of institutional investors with Shell can help accelerate the pace of change to deliver the goals of the Paris Agreement. It raises the bar and sets out an approach for others in the oil and gas sector to follow.”

Link here for more details on Shell’s climate ambitions www.shell.com/netzeroambition

Also published today is an update to the 2019 Industry Associations Climate Review, available here www.shell.com/advocacy

Related posts

Leave a Comment

I accept that my given data and my IP address is sent to a server in the USA only for the purpose of spam prevention through the Akismet program.More information on Akismet and GDPR.

This site uses Akismet to reduce spam. Learn how your comment data is processed.