Oct 28, 2021
Shell beefs up promise to cut emissions in face of break-up calls
Royal Dutch Shell beefed up its commitment to cut carbon emissions as the oil major fends off calls to break itself up. Higher gas prices and a surge in trading income meant cash flow from operations excluding working capital movements hit a record $17.5bn. Shell said it would reduce absolute emissions from its operations, known as scope 1 and scope 2, by 50 per cent by 2030, compared to 2016 levels. The bank's first set of results under chief executive Charlie Nunn showed pre-tax profits up more than 50 per cent to £2bn as strong demand for mortgages pushed up interest income. For the third quarter WPP reported like-for-like revenue before pass-through costs, its preferred sales measure, up a better than expected 15.7 per cent. The volume of drinks it sold in the three months to September was up 3.4 per cent, against analyst expectations of a decline.
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