Shell says transition plan on track despite Ukraine crisis

Scope one and two emissions down 18pc by end-2021 versus 2016 base year, company says in its latest energy transition progress report

Shell’s transition strategy remains on track despite the “extreme disruptions” to global energy markets caused by Russia’s invasion of Ukraine, and the company is making “strong progress” towards its 2050 net-zero target, the oil major says in its latest transition progress report. By the end of 2021, Shell had reduced its scope one and two emissions by 18pc compared with 2016 levels, it says in the report. The company is targeting a 50pc reduction by 2030. “For comparison, we estimate that global energy- and fossil-related CO₂ emissions actually rose by 2.4pc in the period between the end of 2016 and the end of 2021, based on IEA and other data,” Shell says. The company says it has achieved