Skip to main content
Green Energy

Shell doubles spending on clean energy, and commits to halving carbon footprint

The British-Dutch oil and gas company, Royal Dutch Shell plc, has announced plans to double its spending on clean power starting next year, as well as vowing to helve its carbon footprint.

Shell will be increasing its capital expenditure for the new energies division, spending within US$1bn-$2bn a year between 2018-2020.

Prior the new plan, Shell had stated they would be spending up to $1bn a year by 2020.

The company has also set a target that aims to cut its net carbon footprint by one-fifth by 2035, and by a half in the next following 15 years.

SEE ALSO:

“It is making sure that the products within society have an overall lower carbon footprint. That is the longterm way of making sure our business remains a relevant business in the face of the energy transition,” reported Chief Executive of Shel, Ben van Beurden.

The company was faced with a carbon target proposal by shareholder activists at an annual general meeting earlier this year, which was similar to their new goals, but was opposed and defeated.

Shell stated that its goals addressed the spirit of the proposed targets without having any “negative side-effects”.

Ben van Beurden commented: “We could see a kernel of truth and relevance in there.”

Follow this, the activist group who proposed the targets responded to Shell’s changes, saying “We applaud Shell’s ambitious decision to take leadership in achieving the goals of the Paris climate agreement to limit global warming to well below 2C.”

Recommended by Outbrain

Read More

CoalGreen Energy
The French insurance company, AXA, have committed to increasing its funding for green energy projects to €9bn (US$10.6bn) by 2020. The new target… Read More
Green EnergyWindU.S.
The 253MW Amazon Wind Farm Texas project was launched by Jeff Bezos on 19 October. The 100 turbines, rising over 300ft above the ground, make up… Read More
WindGreen EnergyEurope
The world’s first floating wind farm opened on 18 October by Nicola Sturgeon, off the east coast of Scotland. The Hywind project delivers enough… Read More