Shell: updated energy transition targets

(CercleFinance.com) - Shell announces the publication of its first energy transition update since the launch of its 'Powering Progress' strategy in 2021.


The group now states that it is targeting a 15-20% reduction by 2030 in the net carbon intensity of the energy products it sells, compared with 2016, when the previous target was 20%.

Shell points to 'lower overall growth in electricity sales' and says it will 'prioritize value over volume in the energy sector'.

At the same time, the group hopes to reassure by indicating that, by the end of 2023, it will have achieved more than 60% of its target to halve emissions from its operations by 2030, compared with 2016.

Shell also reports that it was one of the first companies to set a target of achieving methane emissions 'close to zero by 2030'. In 2023, methane emissions intensity was 0.05%, well below the target of 0.2%.

Finally, to contribute to the decarbonization of the transport sector, Shell says it has set itself the target of reducing customer emissions from the use of our petroleum products by 15-20% by 2030 compared with 2021.

The company confirms that it will invest $10-15 billion between 2023 and the end of 2025 in low-carbon energy solutions.


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