Shell commits to slashing carbon footprint by 50% for 2050

Energy major Royal Anglo Dutch Shell has revealed a fresh target to cut its emissions of carbon dioxide by around 50% by the year 2050 in a company strategy update released Tuesday.

Chief Executive Officer Ben van Beurden described efforts to ‘”re-shape Shell into a world class investment” and pledging to cut emissions not just from its own operations, but also those produced when using Shell products in a press release accompanying the update to shareholders.

The two-tier proposal is to target emission cuts of around 20% by 2035 before pushing for around 50% cuts a decade and a half later.

In the accompanying statement, van Beurden commits to between $25 and $30 billion annual capital investments, while unveiling an increase in investment for new energies amounting to $1 to $2 billion every year through to 2020.

As part of the commitment, Shell aims to publish its net carbon footprint via its end of year results, typically available around January or February, in its Annual Report, published in March, and via its Annual Sustainability report, published in April, a spokesman for Shell told Census.

According to the 2016 report, facilities operated by Shell emitted 70 million mt of greenhouse gases on a carbon dioxide equivalent basis.