- Shell has relaxed its target to reduce the intensity of its overall carbon emissions.
- The energy giant announced a new “ambition” to reduce customer emissions from using its oil products.
British energy giant Shell has relaxed its target of reducing the intensity of its overall carbon emissions by 2030 because of the expectation of lower power sales.
Shell also announced a new “ambition” to reduce customer emissions from using its oil products by 15-20 per cent by 2030 compared with 2021.
Measuring emissions by intensity means a company can technically increase its fossil fuel output and overall emissions while using offsets or adding renewable energy or biofuels to its product mix.
Shell chief executive Wael Sawan, who took the position in January 2023 with a vow to revamp Shell‘s strategy to focus on higher-margin projects, steady oil output and growth in natural gas production.
Shell said, “In line with this shift to prioritising value over volume in power, we will focus on select markets and segments. This includes selling more power to commercial customers and less to retail customers.”