Shell sets its first carbon reduction targets on output, consumption
Ron Bousso: March 14, 2019
HOUSTON (Reuters) – Royal Dutch Shell said on Thursday it planned to reduce carbon emissions from its oil and gas operations and product sales by 2 percent to 3 percent during the 2016-2021 period, the first time the company has issued carbon footprint targets.
The targets, which will be linked to executive pay, aim to cut greenhouse gas emissions from its oil and gas extraction and refining as well for fuels and other products sold to millions of customers, known as Scope 3 emissions.
Rivals BP and Total have already set short-term targets on reducing carbon dioxide emissions, but those planned cuts are limited to their own operations and exclude Scope 3 emissions.
“Early 2019, it was decided to set a Net Carbon Footprint target for 2021 of 2-3 percent lower than our 2016 Net Carbon Footprint of 79 grams of CO2 equivalent per megajoule,” Shell said in its 2018 annual report, which was released on Thursday.
The targets will be linked to the remuneration of around 150 executives in 2019, and expanded to 16,000 employees next year. read more
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