21-04-2022
Strong progress towards net zero for Shell
Shell today published its Energy Transition Progress Report 2021 detailing the company’s progress over the past year. This report will be put to shareholders for an advisory vote at the Annual General Meeting on 24 May 2022.
“In a time of great uncertainty, it is vital that our long-term energy transition strategy remains on track,” said Ben van Beurden, Shell’s Chief Executive Officer. “This report shows the strong progress we have made towards our target to become a net-zero emissions energy business by 2050.”
This progress includes critical investment decisions in the production of low-carbon fuels, solar and wind power, and hydrogen, and significant changes to Shell’s Upstream and refinery portfolios. The company has also simplified its share structure and moved its headquarters to the UK from the Netherlands.
In 2021, Shell continued to work with customers across sectors, from aviation to marine and road freight, forming more than 50 collaborations with other leading companies.
Today’s publication shows Shell’s progress against concrete climate goals. Last year, the company set a new target to reduce absolute emissions from its operations and the energy it uses to run them by 50% by 2030, compared with 2016 on a net basis. By the end of 2021, Shell had made a reduction of 18%.
Shell also achieved its short-term target to reduce the net carbon intensity of the energy products it sells by 2-3% by the end of 2021, compared with 2016 as well. The company is now working towards a 9-12% reduction in net carbon intensity by 2024, and a 20% reduction by 2030, both compared with 2016.
“We are helping our customers to identify and use low- and zero-carbon alternatives to the energy products they have used for many decades,” said Andrew Mackenzie, Shell Chair. “We see great business opportunities for Shell in the fast-growing low- and zero-carbon markets where we are well positioned to provide the different products and solutions our customers need.”
Shell’s energy transition strategy was put to an advisory shareholder vote at the Annual General Meeting in 2021 where it secured around 89% of the vote. This year, Shell is asking shareholders to vote on its progress, as it will do every year until 2050. The vote on progress is purely advisory and not binding on shareholders.
News Category:
-
MAIRE announces major contract wins
MAIRE announces that its subsidiaries TECNIMONT and KT-Kinetics Technology, also thanks to the technological and engineering services provided by NEXTCHEM, have been ...
29-04-2025
-
Borouge to boost production capacity
Borouge Plc, a leading petrochemicals company that provides innovative and differentiated polyolefins solutions, has today announced a series of strategic asset expansion ...
28-04-2025
-
Wanhua Chemical signs JV agreement with Petrochemical Industries Company
On April 25, Wanhua Chemical formally signed a joint venture agreement with Petrochemical Industries Company. Under the terms of the agreement, PIC invested USD ...
27-04-2025
-
TotalEnergies to cease operating its oldest steam cracker in Antwerp
TotalEnergies’ Antwerp platform provides an update on its investments for the future and announces plan to reconfigure its petrochemicals operations to strengthen competitiveness. ...
23-04-2025
-
HOERBIGER to break ground on new Florida Campus in Florida
HOERBIGER Corporation of America will hold a ceremony to commemorate the groundbreaking of its future home, the HOERBIGER Florida Campus, on Wednesday, April 23rd. Construction ...
22-04-2025
-
Amogy and JGC to accelerate commercialisation of ammonia cracking catalyst
Amogy, a provider of mature, scalable, and efficient ammonia-to-power solutions, today announced the first pilot plant deployment of its advanced ammonia cracking catalyst ...
17-04-2025
-
Clariant teams up with Technip to introduce new steam-to-oil catalyst
Clariant, a global leader in specialty chemicals, today announced the launch of StyroMax UL-100, its most advanced ethylbenzene dehydrogenation catalyst to date. This ...
09-04-2025
-
Yokogawa Launches OpreX Plant Stewardship
Yokogawa Electric Corporation announces the launch today of OpreXTM Plant Stewardship, the most comprehensive lifecycle service program in the company’s OpreX Sustainable ...
08-04-2025
-
IndianOil to build mega petrochemical project in Paradip
In a landmark development, Indian Oil Corporation Ltd. (IndianOil) signed a Memorandum of Understanding (MoU) with the Government of Odisha to set up a world-class Petrochemical ...
08-04-2025
-
BDI BioEnergy to begin construction of biofuel feedstock refinery plant
BDI-BioEnergy International has signed a contract with Ghent Renewables BV to begin the construction of a pioneering biofuel feedstock refinery plant. This facility will ...
04-04-2025