Shell’s “alarming” backtracking on green pledges has drawn fire from investors concerned that it is abandoning key targets to reduce emissions from oil and gas by 2035. Last week, the oil major said it would lower the “carbon intensity” of its products by between 15 and 20 per cent by 2030 compared with 2016, down from a previous 20 per cent. It also scrapped an interim target for reducing the emissions from its products — known as “Scope 3” — by 2035. It retained a goal of hitting net zero by 2050.
Times 17th March 2024 read more »