Shell is making good progress towards its target to become a net-zero emissions energy business by 2050, by reducing emissions from its operations, and from the fuels and other energy products it sells to customers.
Shell will continue to make progress by aiming to achieve near-zero methane emissions by 2030 and to eliminate routine flaring from its upstream operations by 2025, moving faster than the World Bank’s Zero Routine Flaring 2030 initiative.
“We are investing to provide the secure energy customers need today and for a long time to come, while transforming Shell to win in a low-carbon future. Performance, discipline, and simplification will be our guiding principles as we allocate capital to enhance shareholder distributions while enabling the energy transition,” said Shell Chief Executive Officer, Wael Sawan, said in a media release
“We need to continue to create profitable business models that can be scaled at pace to truly impact the decarbonization of the global energy system. We will invest in the models that work – those with the highest returns that play to our strengths,” said Sawan.
The company announced repurposing its energy and chemicals parks footprint to offer more low-carbon solutions to its customers while undertaking a strategic review of its Energy and Chemicals Park assets on Bukom and Jurong Island in Singapore, and further high-grading its European footprint. It also plans to invest in hydrogen and carbon capture and storage (CCS) in a disciplined manner to create options for the future.