IEEFA: Despite the talk, Shell and Total are still investing much more in fossil fuels than renewables

摘要

While Shell and Total are shifting towards renewable energy technologies, around 90% of their capital continues to be spent on fossil fuels, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). To reach their own stated targets, IEEFA estimates that Shell and Total each needs to shift at least $10bn per annum (or 50% of total capital expenditure) from oil and gas exploration and to acceleration of their renewable strategies. Ranking among the most significant contributors to the build-up of greenhouse gases, report author Clark Butler says both Shell and Total are well short of their publicised sustainable energy targets without a major shift of investment from fossil fuel assets to renewable energy.