Invest between $2 billion and $3 billion in renewables and energy solutions annually to reach net zero status by 2050. This is the goal of Shell, which defined the strategy to accelerate its energy transformation.
“Our goal will reduce carbon emissions and deliver value for our shareholders, customers and society at large. We must provide services they want and need – products with the lowest environmental impact,” commented Ben van Beurden, CEO of Royal Dutch Shell.
“At the same time, we will use our established strengths to build a competitive portfolio as we transition to being a net-zero emissions business in tune with society,” he highlighted.
However, contrary to this objective, the company announced that it allocated more annual resources to the oil production business (US$ 8 billion), chemical products (US$ 5 billion) and natural gas (US$ 4 billion).
Even in the midst of this scenario, the oil company stated that oil production could fall by up to 18% by 2030, while the general production of traditional fuels will be 55% lower by the end of the decade.
“Whether our customers are drivers, households or businesses, we will use our global scale and trusted brand to grow in markets where demand for clean products and services is strongest, delivering more predictable cash flows and generating higher returns,” concluded Beurden.
electric mobility
In the press release, Shell also highlighted that it will increase its portfolio of electric vehicle charging points, from 60 to 500, and will add a further 9 charging stations to its network over the next five years.
Comments
Comments are moderated before publication.Comments should be respectful and contribute to a healthy debate. Offensive comments may be removed. The opinions expressed here are those of the authors and do not necessarily reflect the views of the author. Canal Solar.