Investor moves raise questions over Shell strategy

摘要

Shell has again been forced to vigorously defend its energy transition strategy after headline-grabbing moves by two investors overshadowed its announcement of shorter-term targets to cut absolute emissions under its operational control. The new targets are meant to address criticism from climate activists who argue that Shell’s previously announced shorter-term carbon intensity reduction goals on its path to reach net zero by 2050 would leave room for increases in hydrocarbon output. Shell now says that by 2030, it will halve the absolute emis- sions from its operations, known as Scope 1 and 2, compared with 2016 levels on a net basis — a target it says is in line with a May order from a Dutch court that requires the frm to cut its worldwide net carbon emissions, including those from its customers, by 45pc by the end of 2030 compared with 2019.