Shell has achieved its interim target of reducing CO emissions2 to push back toned down. The oil and gas group previously spoke of a 20 percent decrease in 2030 compared to 2016. In an update of its energy transition strategy published on Thursday writes Shell, however, reports a decline of between 15 and 20 percent.
Shell focuses on reducing CO2-emissions are not based on an absolute decrease, but on the amount of emissions emitted per unit of fuel sold, for example gas or petrol. The weakening of the 2030 target is mainly because Shell focuses more on energy supply to businesses than households. It is less green.
Shell previously planned to sell green energy to private individuals in the United Kingdom, Germany and the Netherlands, but has changed course since the appointment of new CEO Wael Sawan. He expected less profit this way. In 2023, Shell made a profit of $28 billion.
The reduction in C02 emissions must still be 45 percent by 2035. Shell also still talks about net-zero emissions by 2050. The company set that goal in 2016, shortly after the Paris climate agreement.
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