AMSTERDAM: Royal Dutch Shell announced an absolute emissions reduction target of 50% by 2030, compared to 2016 levels on a net basis.
This covers all scope 1 and 2 emissions under Shell’s operational control and is another strategic milestone on our path to becoming a net-zero emissions energy business by 2050, in step with society.
“As we play our part in the energy transition, this additional target forms part of our Powering Progress strategy along with our goals to generate shareholder value, respect nature and power lives. This follows ongoing stakeholder engagement since our Annual General Meeting (AGM),” a statement said.
“It is also an important step as we rise to meet the challenge of the Dutch Court’s ruling for our scope 1 and 2 emissions, which Shell expects to meet by 2030. Our 2022 business plan will reflect this new target, which we are committed to delivering regardless of whether we win or lose our appeal against the ruling”.
Shell also committed to bringing forward its target to eliminate routine gas flaring from its Upstream operated assets from 2030 to 2025.
The company’s Powering Progress strategy, announced in February 2021, provides the capital expenditure and financial return profile outlook for each of Shell’s businesses and the Group. There is no material change expected in these profiles, as the strategy provides the levers necessary to achieve the targets announced today. Any further updates will be provided as part of our Energy Transition Strategy update at the AGM.