This ruling does not mean a change, but rather an acceleration of our strategy, says Shell CEO
Shell (LON:RDSB), the FTSE 100 oil giant, announced on Wednesday its intention to speed up its reduction in carbon emissions following a ruling in a Dutch court.
Last month, a court in the Hague ordered Shell to reduce its worldwide carbon emissions by 45% by the end of 2030.
Chief executive of Shell Ben Van Beurden said in a LinkedIn post:
“For Shell, this ruling does not mean a change, but rather an acceleration of our strategy,” van Beurden said.
“That is likely to mean taking some bold but measured steps over the coming years,” he added.
Previously this year, Shell put forward one of the more ambitious climate plans. This includes a goal of reducing the carbon intensity of its products by at least 6% by 2023, by 20% by 2030 and by 100% by 2050 from 2016 levels.
“Now we will seek ways to reduce emissions even further in a way that remains purposeful and profitable. That is likely to mean taking some bold but measured steps over the coming years.”
Judge Larisa Alwin said last month that oil giant’s current plan was not firm enough and slo that the company was obligated to take further action to avoid violating human rights.
The landmark ruling aimed at bringing the FTSE 100 company in line with the Paris Agreement, was the first of its kind in history.
“The court orders Royal Dutch Shell … to reduce its CO2 output and those of its suppliers and buyers by the end of 2030 by a net of 45% based on 2019 levels,” the court said. “Royal Dutch Shell has to implement this decision at once.”
Shell, the ninth biggest polluter in the world from 1988-2015, was given the right to appeal the judgement.
Half an hour before lunchtime the Shell share price is down by 0.25% to 1,380.40p.
