Shell targets net zero by 2050
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
Also in this section
27 November 2024
The agreement by the parties to raise at least $300b/yr for developing countries by 2035 was derided as a betrayal by the Global South, but the UN urged pragmatism
26 November 2024
Agreements on how to operationalise both Article 6.2 and 6.4 will mean countries can start to trade emissions reductions as part of their contributions to the Paris Agreement
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
