Oil and gas group Shell wants to reduce its greenhouse gas emissions more quickly. That’s what the company says in a new strategy. The goal is to be completely climate neutral by 2050.
Shell has expressed new ambitions to reduce emissions. It should have fallen by 6 to 8% by 2023 compared to 2016. By 2030, it should be a 20% drop and 45% by 2035. By 2050, the target will be 100%. According to Shell, the company’s emissions peaked in 2018 and peaked in 2019 in its oil production.
The British-Dutch company also announced that it would invest between USD 5 billion and USD 6 billion a year in renewable energy sources, such as wind energy, biofuels and hydrogen. The group also wants to increase its worldwide network of electric car charging poles to 500,000 by 2025, out of over 60,000 now.