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English Español Shell announces plans to become net zero by 2050

Royal Dutch Shell has announced its target of becoming a net zero-carbon company by 2050 or sooner by putting more money into green energy.

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Shell also said that it will set a stricter 30% target for reducing the net carbon footprint of its energy products by 2030, from 20% currently, and aim for a cut of 65% by 2050, from 50% at present.

Accelerating Shell’s reduction of net carbon footprint is in line with society’s aim to limit the average temperature rise to 1.5 degrees Celsius in line with the goals of the Paris Agreement on Climate Change, according to a company release.

“With the COVID-19 pandemic having a serious impact on people’s health and our economies, these are extraordinary times. Yet even at this time of immediate challenge, we must also maintain the focus on the long term,” said Ben van Beurden, Chief Executive Officer of Royal Dutch Shell.

“Society’s expectations have shifted quickly in the debate around climate change. Shell now needs to go further with our own ambitions, which is why we aim to be a net-zero emissions energy business by 2050 or sooner. Society, and our customers, expect nothing less,” added van Beurden.

The detailed steps will be outlined at Shell’s Responsible Investment Annual Briefing on Thursday.

Spanish oil company Repsol was the first major player to assume the goal of becoming net zero emissions by 2050.

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