Oil giant Shell has made a pledge to cut emissions from its operations to net zero by 2050 or sooner.
The company announced that it will pursue three lines of strategy to achieve its goal, starting will achieving net zero status on all the emissions from the manufacture of all its products, including the emissions created by its operations and also those associated with the energy it consumes.
The move makes Shell the latest oil major to announce a net zero goal after BP and Repsol, and was announced in spite of huge uncertainty over oil prices caused by the coronavirus pandemic.
However it has been criticised heavily by environmental groups for greenwashing – i.e., making its business appear climate-friendly without addressing the operations at the heart of its carbon footprint.
Richard George, head of Greenpeace UK’s climate campaign, said: “A credible Net Zero plan from Shell would start with a commitment to stop drilling for new oil and gas.
“Instead, investors are being fobbed off with vague aspirations that don't tackle Shell’s monstrous carbon footprint and pass the buck to Shell’s customers to offset their emissions.”
Included in Shell’s plan are a commitment to boost the low-carbon products in its business, including renewable energy, biofuels and hydrogen, in order to reduce carbon intensity. It will also help its customers to decarbonise and address the emissions that are produced when they use Shell’s products.