The Wall Street Journal discusses how Shell is seting more ambitious emissions goals. Move comes as oil sector faces pressure from investors and headwinds due to coronavirus pandemic.
oyal Dutch Shell PLC agreed Thursday to set bolder carbon-emissions goals after engaging with a group of investors representing $40 trillion in assets under management.
The move comes as the oil sector faces growing pressure from climate-aware investors and headwinds due to the coronavirus pandemic and low oil prices. The International Energy Agency said Wednesday that it expects global oil demand to fall by 9.3 million barrels a day this year as a result of government-imposed lockdowns.
Royal Dutch Shell said it aims to reduce the carbon intensity of the products it sells to its customers by 30% by 2035 and 65% by 2050. The Anglo-Dutch company also said it will target net-zero emissions from its own operations by 2050 and prioritize serving businesses and sectors that aim to have net-zero emissions by 2050.