Shell Weakens 2030 Emissions-Cut Target in Move Away From Clean Power
- Carbon intensity reduction target for 2030 is now 15% to 20%
- Change reflects move away from retail clean-power business
The Shell Pernis refinery in Rotterdam, Netherlands.
Photographer: Peter Boer/BloombergThis article is for subscribers only.
Shell Plc weakened its targets for carbon-emissions cuts in the coming decade, while maintaining the ambition of becoming a net zero company by 2050.
The change is the latest sign of a broader adjustment in plans for the energy transition among the UK-based oil majors, which have been under pressure from activist investors to focus on their core petroleum businesses. BP Plc last year said it would pump more oil and gas and have higher emissions this decade than previously planned.