Shell has declared an ambition to double the amount it spends on green energy to $4bn (£3.2bn) a year, in a sign of how the Anglo-Dutch company is looking to speed up its move to a future beyond oil and gas. Maarten Wetselaar, the head of the gas and new energy unit which generates a third of the company’s revenues, said he wanted to raise Shell’s investment in low carbon energy. The company has already committed to spend $1bn-$2bn annually in the next two years, with the rest of its total $25bn budget invested in hydrocarbons. Wetselaar said if his initial investments generated a good enough return, he would be able to successfully argue for an increase from 2020 onwards.
Guardian 26th Dec 2018 read more »