Shell announces strategy to accelerate renewable transition

Goal is to invest up to US$ 3 billion in sustainable projects to achieve carbon neutrality by 2050
17-02-2021-canal-solar-Shell anuncia estratégia para acelerar transição renovável

Invest between US$ 2 billion and US$ 3 billion in renewables and energy solutions annually to achieve 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 amid this scenario, the oil company stated that oil production could fall by up to 18% by 2030, while the overall 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 60,000 to 500,000, and will add a further 9,000 charging stations to its network over the next five years.

Picture of Mateus Badra
Matthew Badra
Journalist graduated from PUC-Campinas. He worked as a producer, reporter and presenter on TV Bandeirantes and Metro Jornal. Has been following the Brazilian electricity sector since 2020.

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