Shell has outlined its ambition to become a net zero emissions energy business by 2050, or sooner, and how it will look to get there.
On 16 April, it unveiled its plan to investors, and explained that there will be three aspects to its approach with the first being that it will aim to reach net zero emissions from the manufacture of all of its products by 2050 at the latest. Elsewhere, it will accelerate its Net Carbon Footprint ambition in order to be in step with the Paris Agreement goal of limiting the average global temperature rise to 1.5°C.
This will mean reducing the net carbon footprint of the energy products Shell sells to its customers by around 65% by 2050, instead of 50%, and 30% by 2035, rather than 20%. It is also planning to pivot towards serving businesses and sectors that, by 2050, are net zero emissions as well.
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell, said: “With the COVID-19 pandemic having a serious impact on people’s health and our economies, these are extraordinary times. Yet even at this time of immediate challenge, we must also maintain the focus on the long term. Society’s expectations have shifted quickly in the debate around climate change. Shell now needs to go further with our own ambitions, which is why we aim to be a net-zero emissions energy business by 2050 or sooner. Society, and our customers, expect nothing less.”