Feb 11, 2021

Shell boosts 2050 net zero emissions targets

Oil giant Shell has said it wants net zero emissions both for itself and from products used by its customers by 2050. Last week, Shell reported a huge loss after the Covid pandemic caused a slump in oil demand. Shell wants to expand its biofuels, hydrogen and hydropower businesses. Chief executive Ben van Beurden said that the oil giant's aim was for its energy products to be predominantly low and no-carbon. Shell will also continue to sell more-polluting energy products such as jet fuel and diesel, but plans to offset both its own and customer emissions through carbon capture and storage and so-called "Nature-based" solutions such as reforestation.

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