Shell fleshes out zero-carbon timeline

Revenue from oil and gas will be needed to pay for its transition into a greener company

Shell set out its strategy this morning to transition to a zero-carbon company by 2050. But with increased investment in its upstream, it is not aggressive enough to impress everyone. Shell faced criticism last year after setting a target to become a net-zero company by 2050 that did not include the emissions created from the end-use of its products. The new target will cover both the company’s operations and its customers’ emissions. It has committed to reducing routine flaring by 2030 and keeping methane emissions below 0.2pc. For the near future, spending is still very much focussed on oil and gas CEO Ben van Beurden, on a media conference call, was bullish about the hydrogen mark