Royal Dutch Shell plc (Shell) Chief Executive Officer, Ben van Beurden, updated investors on the company’s strategy, setting out plans to reduce the net carbon footprint, covering not just emissions from its own operations, but also those produced when using Shell products.
Shell’s ambition is to cut the net carbon footprint of its energy products by around half by 2050. As an interim step, by 2035 it will aim for a reduction of 20%.
The company will measure its progress by disclosing the net carbon footprint from its operations and energy use, as it does already, but also from the use of its energy products, expressed in grams of CO2 per megajoule consumed and taking account of any emissions offset.
This measure will be tracked over time, with reviews every five years, to ensure Shell is progressing in line with societal progress towards the carbon footprint reduction required to meet the Paris goals.
“Tackling climate change is a cross-generational, global and multi-faceted effort,” van Beurden said. “This is a challenge for the whole planet, for all of society, for customers, for governments and indeed for businesses. It will mean meeting increasing energy demand with an ever-lower carbon footprint. And it is critical that our ambition covers the full energy lifecycle from production to consumption. We are committed to play our part.’’