Shell pledges to halve carbon footprint, double clean energy spending

Shell has announced its intention to halve its carbon footprint by 2050. As an interim goal, it aims to reduce it by around 20% by 2035. It will also disclose […]

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By Priyanka Shrestha

Shell has announced its intention to halve its carbon footprint by 2050.

As an interim goal, it aims to reduce it by around 20% by 2035.

It will also disclose information on its carbon footprint annually from its operations and energy use as well as from the use of its energy products.

The energy giant has pledged to invest up to $2 billion (£1.5bn) a year through 2020 to help meet the goals of the Paris climate change agreement.

Shell has also allocated between $5 billion (£3.8bn) to $6 billion (£4.5bn) a year for deepwater drilling and $2 billion (£1.5bn) to $3 billion (£2.3bn) a year for shale oil and gas.

In a letter to the UN, Shell’s CEO Ben van Beurden said: “We also plan to pursue further operational efficiencies in our assets and will seek to develop carbon capture and storage. And increasingly, we will work with nature, forests and wetlands to help compensate for those emissions from uses where alternatives do not yet exist or will take time to scale.”