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Posts under ‘Carbon Capture’

Thousands call for Science Museum to drop controversial Shell sponsorship

‘A museum dedicated to science education should not be helping promote any company that is actively exacerbating this planetary emergency until they show a serious proactive drive to switch to renewables’

Tens of thousands of people have urged the Manchester Museum of Science and Industry to drop Shell as a sponsor from an upcoming event.

The announcement that the museum’s new exhibition, “Electricity: the spark of life”, would be supported by the oil giant sparked controversy among local groups.

Critics described the decision to partner with the company as a sign that for the museum “money is more important than tackling climate change”.

Specifically, they have highlighted the role that fossil fuels play in driving global climate change and the role that oil companies have played in the phenomenon.

A petition with over 57,000 signatures has been handed to the museum as the Manchester Science Festival, which includes the new exhibition. read more

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Shell boss Ben van Beurden will not set firm emission targets

Royal Dutch Shell would be “foolhardy” to adopt firm targets for cutting its carbon emissions because it would open itself up to lawsuits, the company’s boss has said.

The energy group has set an “ambition” to halve the carbon footprint of its energy products by 2050, which it says would put it in line with the Paris climate goals, but has resisted calls for binding commitments.

Ben van Beurden, Shell chief executive, said that the group did not want to “put ourselves at the mercy of a legal challenge”. read more

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Shell climate ambition snubbed by seven out of eight largest Dutch insurance firms

Seven out of eight of the Netherland’s largest insurance companies snubbed Shell’s climate ambition by abstaining or voting with a fringe group’s resolution.

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Only one insurer, Allianz, voted against the resolution put forward by shareholder activist group, Follow This, who are calling for Shell to align its targets with the Paris Climate Agreement at its most recent AGM.

The three insurers based in the Netherland’s who voted for the resolution, Vivat, NN and Aegon, represent more than £850 million in investment.

APG, Achmea IM and Achmea Own abstained from the vote, Allianz rejected the resolution, while ASR closed Shell of investments for sustainability reasons. read more

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Shell Tries to Market Some of Its Natural Gas as Clean Energy

By Mathew Carr, 1 June 2018

Royal Dutch Shell Plc is attempting to market some of its natural gas as clean energy, packaging it with credits for eco-friendly projects that offset pollution coming from the fuel.

The oil giant is offering business customers in Europe a combination of gas and certificates that show emissions are offset with financing for carbon-reduction projects. It’s testing markets in Germany, Italy, Spain and Britain to gauge demand for what credits to use, according to David Wells, head of Shell Energy Europe. read more

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Friends of the Earth says to sue Shell over climate change

Reuters Staff: Tuesday 29 May 2018

LONDON (Reuters) – Friends of the Earth plans to file a lawsuit against Royal Dutch Shell (RDSa.L), accusing the oil company of failing to act on climate change, the environmental activist group said on Tuesday.

Shell has set out “ambitions” to halve carbon emissions by 2050 and expand in renewables, but the Anglo-Dutch company has come under pressure from investors and activists to reduce its carbon footprint and comply with the 2015 international Paris climate agreement. read more

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Climate Change Warriors’ Latest Weapon of Choice Is Litigation

By Jeremy Hodges, Lauren Leatherby and Kartikay Mehrotra
May 24, 2018

In the global fight against climate change, one tool is proving increasingly popular: litigation.

From California to the Philippines, activists, governments and concerned citizens are suing the biggest polluters and national governments over the effects of climate change at a break-neck pace.

“The courts are our last, best hope at this moment of irreversible harm to our planet and life on it,” said Julia Olson, an attorney for Our Children’s Trust, a legal challenge center in the U.S. that is involved in climate change litigation across 13 countries, including the U.S., Pakistan and Uganda. read more

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Shell Sees Off Controversial Votes on Climate Change, CEO Pay

Photographer: Andrey Rudakov/Bloomberg

Kelly Gilblom: 22 May 2018, 14:48 BST

Royal Dutch Shell Plc has seen off the two most debated issues at its shareholder meeting — the boss’s pay and responsibility in tackling climate change. But not without a degree of drama.

The company won the backing of about 94 percent of shareholders to not set specific emission-reduction targets, with Chief Executive Officer Ben van Beurden saying it is taking “leadership” on the issue. However, while almost 75 percent of investors also approved the remuneration report, it faced stiffer resistance after an influential advisory firm asked them to reject the package. read more

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Large investors ask Shell to set targets to comply with Paris climate accord

May 22, 2018

A group of 26 large institutional investors have petitioned Shell to formulate concrete goals in its effort to address the terms of the Paris climate accord.

The 26 investors, which have a total of $7.8trn under management, presented a statement to the Anglo-Dutch energy giant during Shell’s AGM in The Hague. The group of  26 includes HSBC Global Asset Management, AXA Investment Manager, Aegon, Calpers en MN.

In its statement, the investors applauded Shell’s ambition to reduce its carbon footprint by 50% and called on other oil and gas companies to follow suit. read more

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Investors turn up heat on Shell over climate targets

Ron Bousso: MAY 22, 2018

THE HAGUE (Reuters) – Top investors in Royal Dutch Shell on Tuesday stepped up pressure on the oil and gas giant to commit to hard targets to reduce greenhouse gas emissions to battle climate change.

Shell has set out “ambitions” to halve carbon emissions by 2050 and expand in renewables energy, which Chief Executive Officer Ben van Beurden said were ground breaking for the oil industry.

To view a graphic on Shell emissions, click: reut.rs/2Iya7Hf

“Nobody else comes close, it is seriously ambitious,” van Beurden said of Shell’s plan at the company’s annual general meeting in The Hague. read more

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Shell urged to resist calls to fall into line with Paris climate accord

20 MAY 2018 • 7:30PM

Britain’s largest shareholder advisory groups have called on investors in Royal Dutch Shell to reject growing demands for the oil giant to take full responsibility for its impact on the environment.

Shell faces a binding shareholder vote tomorrow to decide whether to adopt rigorous accountability standards to bring its operations into line with the Paris climate agreement. Glass Lewis and ISS have urged shareholders to reject the “unduly burdensome” and “problematic” proposal. read more

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Shell and BP may face further shareholder opposition at AGM

Shell and BP may have to face down shareholder opposition to their chief executives’ pay packets at their annual general meetings next week.

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And for the third year in a row, Shell investors will vote on a resolution asking the company to set clear goals for meeting climate change targets.

Recommendations by the Institutional Shareholders Services (ISS) once again focus heavily on the pay of top executives at the energy giant, with ISS raising concerns over the 80% rate of bonus delivered to the CEO of Shell despite only reaching 70% on sustainable development targets.

Similarly, investors advisory firm Pensions and Investment Research Consultants (PIRC) continued to caution shareholders against sanctioning BP chief executive Bob Dudley’s remuneration package, which it called “excessive” in 2017 as it soared by more than £1 million to £9.5m. read more

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Investors press Shell for tougher carbon emissions cuts

Church of England funds back AGM resolution calling for more aggressive targets

and in London: 4 May 2018

Investors with £28bn of assets under management, including pension funds of the Church of England and the UK Environment Agency, have declared support for a shareholder resolution that would force Royal Dutch Shell to adopt tougher targets for reducing carbon emissions. Shell’s board has urged shareholders to reject the resolution… FULL FT ARTICLE read more

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‘We need to change, and that is what Shell is going to do’, says UK chair

Sinead Lynch, UK country chair for Shell, said yesterday that the oil giant knows that it “needs to change” in the coming energy transition, and “that is what Shell is going to do”.

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As part of a panel at the All-Energy conference in Glasgow, Ms Lynch said that Shell was part of a movement within the industry which was recognising the energy transition and that Shell was “beginning that change”.

She said: “Shell has a deep history and deep roots across Scotland, in our upstream business where we have been investing in and producing from the North Sea for 50 years. But also in our downstream business where we have been producing a number of downstream products to our customers here for almost a 100 years, and that’s a range of products that’s beginning to change. read more

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Shell Isn’t Worried About Peak Demand But Asset Managers Are

: April 30, 2018

Summary

  • Royal Dutch Shell’s latest Energy Transition Report contains a demand outlook for oil and gas that is quite conservative compared to its industry peers.
  • The company’s demand outlook is higher than what will likely be possible if the Paris Climate Agreement’s emissions targets are to be achieved, however.
  • Almost 90% of respondents in a recent survey of major asset managers believe that climate risks will have a “significant” impact on oil and gas company valuations in the near-term.

The release of two separate reports in as many weeks on how integrated oil and gas producers will manage an anticipated transition toward low-carbon energy is likely to leave investors in Royal Dutch Shell (RDS.A)(RDS.B) with some questions. The company released its new Energy Transition Report earlier this month, and the final product presents its strategy for maintaining its operations even as the world’s major economies (with the exception of the U.S.) work to meet their greenhouse gas emission reduction targets under the Paris Climate Agreement. The report’s relatively phlegmatic conclusion stands in stark contrast to the results of an annual survey by the UK Sustainable Investment and Finance Association that identified strong concern from asset managers on the same count. read more

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Big Oil Bids to Burnish Credentials in War on Climate Change

The world’s biggest oil companies, for long typecast as villains of climate change, are seeking to reinvent themselves as environmental pioneers.

“We’re not going to be sitting back and say let’s see what society does and we’ll follow that,” said Ben van Beurden, chief executive officer of Royal Dutch Shell Plc. “We’re more than prepared to be assertive and lean forward and say: ‘This is what it takes.”’

Irked by a shareholder resolution that would force Europe’s largest oil company to create specific emissions targets, the CEO took the unusual step of engaging with five reporters on Monday about Shell’s vision for a decarbonized world. Not only is Shell implementing its own, much stronger, measures to manage the energy transition, according to Van Beurden, but it can also drag the rest of the world along with it. read more

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Shell CEO asks investors to reject shareholder vote on emissions

Apr. 16, 2018 11:41 AM ET|By: , SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) urges shareholders to oppose a resolutionfrom activist investors that would hold the company to firm targets for cutting carbon emissions, even as it reiterates its commitment to fighting climate change.

Climate activist Follow This is offering a resolution for Shell’s May 22 annual general meeting urging the company to set more aggressive targets aligned with the Paris climate deal goal of limiting global warming to “well below” 2 degrees Celsius.

“We will not be tied to an approach that potentially moves too quickly or too slowly to this transition,” says CEO Ben van Beurden. “If society finds a way to go faster, we will go faster… but we cannot do it single-handedly.” read more

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Shell’s CEO Tells Activists and Investors: Trust Me to Cut CO2

Chief Executive Officer Ben van Beurden has the same message for activists seeking to bind Royal Dutch Shell Plc to deep emissions cuts, and investors concerned about the merits of shifting away from oil and gas: Trust me.

He advised shareholders on Monday to reject a resolution from climate group Follow This that would set clear targets for the company’s greenhouse-gas emissions, more specific than its current broad “ambition.” He also reiterated his intention for Shell to make most of its money from clean energy in 20 years, such as renewables, hydrogen or carbon capture in 20 years.  read more

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Shell takes its turn in the climate change spotlight

Photo: Michael Macor, Staff / The Chronicle

What did you know and when did you know it? Those are the questions increasingly directed at Big Oil as concerns about global warming, rising sea levels and climate change grow.

For a few years now, Exxon Mobil has faced a bombardment of allegations — which the Texas oil company denies — that it knew about climate change related to fossil fuels in the 1970s and buried the evidence. State investigations in New York and Massachusetts continue to focus on whether Exxon Mobil misled the public and the company’s investors. read more

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Shell’s Oil Isn’t Stranded Today, But Tomorrow Matters More

Current oil reserves are only part of the equation for assessing future risks.

By Liam Denning: 12 April 2018, 18:36 BST   Photographer: Andrey Rudakov/Bloomberg  

The 92220 Evening Star was the last steam locomotive built by British Rail, back in 1960. It was retired only five years later, as diesel and electrification consigned the age of steam to history.

Building an engine and using it for only five years is a great way to waste investment. Which is why there’s a raging debate today about stranded assets in the fossil-fuels business. Given the planet’s diminishing capacity to absorb greenhouse gases without potentially catastrophic environmental effects, there is an implied cap on how much more oil, gas and coal can be used (absent some major breakthrough in carbon-capture technology). And, as happened with the Evening Star, rival ways to power transportation threaten to overturn the internal combustion engine’s dominance. So producers increasingly face questions about whether some of their oil and gas reserves will ever actually be produced — with obvious implications for their stocks. read more

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Shell sees no risk of ‘stranded assets’ as reserves life shrinks

FILE PHOTO: Electric car chargers are seen at the Holloway Road Shell station where Shell is launching its first fast electric vehicle charging station in London, Britain October 18, 2017. REUTERS/Mary Turner/File Photo

Dmitry Zhdannikov: APRIL 12, 2018 LONDON (Reuters) – Royal Dutch Shell said on Thursday it saw little risk of having “stranded assets” in its portfolio as the world shifts to low carbon energy because the oil major will have four-fifths of its current oil and gas reserves extracted before 2030 anyway. 

Shell has one of the lowest reserves life ratio among its peers and last year it saw reserves plunging to new lows after divesting a large number of assets.

The major now sits on 12.2 billion barrels of oil equivalent, down from 13.2 billion at the end of 2016, and enough to sustain the current annual production of 1.383 billion barrels for less than nine years. read more

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Shell to transition from oil when it ‘makes commercial sense’

Oil giant Shell said today that it will continue to “sell the oil and gas that society needs” but is also positioning itself to transition further into low-carbon energy when it “makes commercial sense”.

Shell’s Energy Transition Report outlines the firm’s continued commitment to oil exploration while setting out its strategy for the future changes in the energy sector.

The oil company said that it estimates that 80% of its current proven oil reserves “will be produced” by 2030, and only expects to see 20% production after that time.

In today’s report, Shell said outlined that it will look to invest up to £3.5billion in conventional oil and gas and the same amount again in oil products, while also investing up to £1.4billion in new renewable energies. read more

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Shell envisions long road to low carbon future

By Daniel J. Graeber  |  April 12, 2018

April 12 (UPI) — A transition to a cleaner economy is underway as evidenced by a rate of decline in global oil demand, but it’s a long journey, Royal Dutch Shell said Thursday.

The Dutch supermajor has committed to reducing its carbon footprint in half by 2050 and said it would invest about $2 billion per year on alternative energy solutions until the end of the decade. CEO Ben van Beurden said that Shell would play its part in meeting global energy demand with cleaner options. read more

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Shell’s Climate Push Fails to Cut Emissions

Royal Dutch Shell Plc is demonstrating how tough it is for a massive, 100-year-old oil company to become a friend to the climate.

Shell’s greenhouse-gas emissions rose last year to the highest since 2014, it said Monday. The increase shows the challenge facing Chief Executive Officer Ben van Beurden as his company grows to meet burgeoning energy demand while investors demand a clear path toward a low-carbon future. 

“As living standards rise, energy demand could double over the course of the century,” Van Beurden said in Shell’s sustainability report. “The world is going to have to make meeting this demand part of the approach to cutting emissions.”  read more

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The Sky’s The Limit In Shell’s New Climate Targets Scenario

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Shell — yes, that Shell — just outlined a radical scenario for what it would take to halt climate change

Shell CEO Ben van Beurden

March 26, 2018

Royal Dutch Shell on Monday outlined a scenario in which, by 2070, we would be using far less of the company’s own product — oil — as cars become electric, a massive carbon storage industry develops, and transportation begins a shift toward a reliance on hydrogen as an energy carrier.

The company’s Sky scenario was designed to imagine a world that complies with the goals of the Paris climate agreement, managing to hold the planet’s warming to “well below” a rise of 2 degrees Celsius, or 3.6 degrees Fahrenheit, above preindustrial levels. Shell has said that it supports the Paris agreement. read more

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FT: Shell likely to face activist challenge to shift away from fossil fuels

|By: , SA News Editor

  • Royal Dutch Shell (RDS.A, RDS.B) likely will face a shareholder resolution calling at its May annual meeting for a radical shift away from fossil fuels, highlighting mounting pressure on big oil companies over global warming, Financial Times reports.
  • Shell has gone further than most peers by announcing last November a goal to reduce its carbon footprint by 50% by 2050, but climate activists are disputing its claim that its goal is in line with the Paris agreement.
  • “The ambitions announced by Shell are inconsistent with the Paris agreement, in particular when taking into account expected global energy demand growth,” according to Follow This, the shareholder group that has submitted a resolution calling for more aggressive targets.
  • Activists say Shell’s goal for a 50% reduction actually would be 25% in absolute terms if the company maintains its share of a global energy market that is forecast to grow by 50% by 2050.
  • read more

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    Shell Says Saving Planet Probably Means Sucking CO2 From the Air

    Cutting emissions won’t be enough to keep the planet from warming by more than 2 degrees Celsius: to achieve that goal, according to Royal Dutch Shell Plc, will require sucking carbon dioxide out of the atmosphere.

    A scenario report from the Anglo-Dutch oil major describes a world woefully unprepared to meet the goals set out in the Paris Climate Agreement. Shell says that by 2060, carbon capture and storage must exceed global emissions as the company sets a course for pre-industrial pollution levels. For decades after, such facilities would need to work at breakneck pace to inhale the carbon dioxide spewed by previous generations.  read more

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    Why buy an electric car? — when you can wash away your carbon footprint at the gas station

    Royal Dutch Shell Plc is rolling out a program in Europe that will allocate as much as 2 cents per litre from the sale of gasoline at its stations to replant forests. NATIONAL POST

    CALGARY – You could soon be able to wash away your carbon footprint at your gas station.

    Royal Dutch Shell Plc is rolling out a program in Europe that will allocate as much as 2 cents per litre from the sale of gasoline at its stations to replant forests. The initiative could come to Canada soon, as the company plans to roll it out to the general public. read more

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    Despite Alberta’s warnings, oil majors Shell and BP are falling in love with carbon capture technology all over again

    Geoffrey Morgan: March 13, 2018

    HOUSTON — Major oil companies Royal Dutch Shell Plc and BP Plc are taking another hard look at carbon capture storage much to the alarm of Alberta which sank more than a billion dollars in the technology but was heavily criticized for pursuing an expensive method to rein in carbon emissions.

    “I’m fairly surprised,” Alberta Energy Minister Marg McCuaig-Boyd said of the widespread enthusiastic touting of CCS investments at CERA Week, an important Houston energy conference organized by IHS Markit at the beginning of March. read more

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    Big Oil CEOs Urge Norway to Throw a Lifeline to Carbon Capture

    Saetre, Pouyanne & van Beurden in Oslo, Feb. 15 2018.: Photographer: Kyrre Lien/Bloomberg

    Three of the world’s biggest oil companies called on Norway to help maintain funding for carbon capture and storage technology that is stagnating amid concerns about whether it can ever be cost-effective.

    The chief executive officers of Royal Dutch Shell Plc, Total SA and Norway’s state-controlled Statoil ASA gathered on the sidelines of an energy conference in Oslo to make the case for a flagship Norwegian project, in which the companies plan to store CO2 emissions under the North Sea after they’ve been shipped and piped from onshore industrial plants. read more

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    A decisive step to a cleaner energy future

    Chief Executive Officer at Shell

    It’s time for Shell to accelerate its efforts in the transition to a lower-carbon world. This is how I plan to drive change through the company.

    How will a future CEO of Shell judge what I have just announced? Will they look back to the end of 2017 and consider it a turning point? In 20 years? 30 years? If things move as I expect, they probably will.

    By then, I believe Shell will be at least as profitable and successful as today but it will be a very different company.

    We will still have plenty of oil and gas in our energy mix but other areas of the business, which are small today, will have grown. read more

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    U.S. oil majors fall behind on climate, European lead

    Major European oil companies are making major efforts to reduce greenhouse gas emissions to fight climate change. American majors are dragging their behinds.

    Royal Dutch Shell pledged Tuesday to slash carbon emission by 50 percent and boost investment in clean, renewable energy. CEO Ben van Beurden promised to spend at least $2 billion on on wind power, biofuels and electric cars, about the same amount it will spend on shale oil.

    “It is making sure that the products within society have an overall lower carbon footprint,” Beurden told investors, according to the Guardian newspaper. “That is the long-term way of making sure our business remains a relevant business in the face of the energy transition.” read more

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    Shell, to Cut Carbon Output, Will Be Less of an Oil Company

    By Nov. 28, 2017

    Bowing to pressure from shareholders and the Paris international climate accord, Royal Dutch Shell pledged on Tuesday to increase its investment in renewable fuels and to cut its carbon emissions in half by 2050.

    Shell and other big oil companies have moved only sporadically over the last decade toward greater production of wind and solar energy. Now there are signs of a commitment to take climate change more seriously.

    In comments to investors, Ben van Beurden, Shell’s chief executive, said that from 2018 to 2020, the company’s new-energies division would spend up to $2 billion a year on renewable energy sources like wind, solar and hydrogen power and on electric-car charging stations. read more

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    Shell doubles up on green spending and vows to halve carbon footprint

    Anglo-Dutch giant to spend $2bn on wind power, biofuels and electric cars as it bows to shareholder pressure by setting new company climate change target 

    Shell has doubled its spending on clean power and bowed to shareholder pressure by promising to halve the carbon footprint of the energy it sells by 2050, as the oil giant said it was stepping up its ambitions on green energy.

    FULL ARTICLE

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    Shell signals an end to the oil downturn with return of all-cash payouts

    Jillian Ambrose: 

    Royal Dutch Shell has signalled the end of the three-year oil market downturn by restarting its all-cash shareholder payouts as its cash flow begins to boom.

    The oil major began paying out dividends in the form of shares in 2015, in the wake of the oil price crash and its $50bn takeover of BG Group.

    But chief executive Ben van Beurden said the Anglo-Dutch group was now confident that it could call an end its scrip dividend as its cost-cutting and divestment programme pays off. read more

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    Shell Canada says Quest carbon capture and storage project exceeds expectations

    17 NOVEMBER 2017

    Shell Canada’s Quest Carbon Capture and Storage (CCS) project in the Alberta oil sands has sequestered over two million tonnes of carbon dioxide underground. Quest, situated at Shell’s Scotford facility, hit the two million tonne target in July 2017, some 21 months after becoming operational. The company said the target was originally expected to be reached after two years, and the project was exceeding expectations.

    “This project has just been incredibly exciting because not only are we proving that this technology works, but we are demonstrating that Canadians are at the forefront of carbon capture and technology,” said Shell Canada external relations advisor Conal MacMillan.

    The CCS project, which is among just a handful throughout the world, captures CO2 emissions from the Shell upgrader in Scotford, a facility which processes crude bitumen from oil sands into a wide range of synthetic crude oils. read more

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    Shell and BP connected pension funds ‘at risk’ from companies’ failure to adapt

    A shareholder campaign group has said pension funds who have invested in BP and Shell are exposed due to the oil majors’ inaction on the low-carbon transition.

    Written by

    In its latest report, ShareAction, a non-profit organisation, said the companies’ business models look increasingly vulnerable to the threats posed by low-cost renewables and climate change policy.

    The group said the oil majors had done little to mitigate these threats and lamented their lack of investment in low-carbon (BP, 1.3% of capital expenditure to Shell’s 3% of annual capex).

    ShareAction said investors should “escalate” engagement with senior management, pressing them to set out their positions on climate legislation and their plans for “reducing total lifecycle emissions”. read more

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    Clock ticking down on deadline for Shell Springboard entries

    Written by

    Entrants will be competing for a green cash pot containing £350,000, with the national winner to receive £150,000.

    A further five regional winners will each get £40,000 of no-strings attached funding.

    They will also be given access to academics and investors whose advice can help grow their enterprises.

    The cut-off date for applications falls on November 6.

    Former winners include Edinburgh-based tidal energy technology developer Nova Innovation. read more

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    Planning for a green future

    Zhang Xinsheng, executive chairman of Shell Companies in China. [Photo provided to China Daily]

    Editor’s Note:

    The Communist Party of China has just concluded its 19th National Congress in Beijing. In the runup to the meeting, China Daily asked business leaders from major multinational companies for their views on economic developments here and the country’s global leadership role.

    China Daily: 27 October 2017

    Zhang Xinsheng is executive chairman of Shell Companies in China, a subsidiary of Royal Dutch Shell Plc, the global energy group.

    How can China achieve stable and sustainable economic growth? read more

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    BP, Shell Put Oil Ahead of Earth, ESG Group Warns Investors

    Oil giants focus excessively on fossil fuel production, a green advocacy group concluded, and urged investors to demand clear plans for controlling climate change.

    Joe McGrath: October 25, 2017

    Performance targets of energy companies Royal Dutch Shell and BP remain too heavily biased towards hydrocarbon production, a report has warned.

    ShareAction — a U.K. charity that promotes environment, social, and governance-oriented investing — looked at BP and Shell’s greenhouse emissions management policies, asset portfolio resilience, corporate key performance indicators, executive incentive structures, and influences on public policy. The group concluded that the oil giants prioritize the production of fossil fuels, which could incentivize management behavior “misaligned” with shareholder interest, as defined by ShareAction. read more

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    General Motors, Disney, Shell and 1,200 other companies are taking steps to fight climate change, report says

    September 12 at 12:01 AM

    More than 1,200 global businesses, including U.S. companies such as Disney, Shell and General Motors, are moving to embrace a carbon price — even if President Trump isn’t, according to a new report by a Washington climate think tank.

    While the president has suggested that tackling climate change will undermine the economy and hamstring  businesses, chief executives have been busy voluntarily putting a price on their own carbon dioxide emissions. read more

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    Shell’s Ben van Beurden: Oil vs Uber in the battle of reputations

    In a throwaway comment, Ben van Beurden found himself front and centre on the national media’s radar. “It wasn’t a planned remark, it just came out,” he said.

    Written by

    But it wasn’t oil price, or strategy that landed him prime time interviews.

    Instead, it was the comment that his next car would be electric.

    “It wasn’t a planned remark, it just came out,” he said.

    “But it shows how charismatic renewables and electricity is at the moment, much more charismatic than gas and definitely much more charismatic than oil.”

    A perception that oil and gas have a shrinking role to play is one the industry needs to address head-on. read more

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    Shell Prepares For A Different Energy Reality

    : 14 August 2017

    Summary

    • This summer has seen the governments of several of the world’s major economies propose to eliminate internal combustion engine vehicles over the next 10-30 years.
    • At the same time, Royal Dutch Shell announced several major clean energy investments over the summer in anticipation of a drop-off in petroleum demand.
    • This article looks at how Shell’s clean energy investments fit into its energy profile forecasts compared to its peers.

    This summer has been filled with the sort of headlines that can give strategic planners in the petroleum & gas sector heartburn. One-upping Germany’s earlier non-binding pledge to ban new internal combustion engine [ICE] vehicles by 2030, the government of France’s new centrist president Emmanuel Macron announced in early July that the country will end sales of ICE vehicles by 2040. This move, which is part of that country’s efforts to comply with its greenhouse gas emission reduction target under 2015’s Paris Climate Agreement, would eliminate gasoline- and diesel-only engines and is aimed at reducing the country’s air pollution as it is at mitigating climate change. Britain intends to do the same by 2050. Even China and India, which have long been posited as important future sources of petroleum demand, are moving to electrify their vehicle fleets: China recently announced that it wants 25% of the country’s vehicles to be “alternative fuel” by 2025, while India is drafting plans to electrify all of its vehicles by 2030. read more

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    This could be the next big strategy for suing over climate change

    July 20 at 1:13 PM

    Two California coastal counties and one beach-side city touched off a possible new legal front in the climate change battle this week, suing dozens of major oil, coal, and other fossil fuel companies for the damages they say they will incur due to rising seas.

    The three cases, which target firms such as Chevron, ExxonMobil, BP and Royal Dutch Shell, assert that the fossil fuel producers are collectively responsible for about 20 percent of global carbon dioxide emissions between 1965 and 2015. They claim that industry “knew or should have known” decades ago about the threat of climate change, and want companies to pay the costs of communities forced to adapt to rising seas. read more

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    Investors Squeezing Oil & Gas Developers To Cut Methane

    Investors Squeezing Oil & Gas Developers To Cut Methane

    , I write about the global energy business.: July 20, 2017: Opinions expressed by Forbes Contributors are their own.

    Oil and gas developers may soon be feeling the effects of a one-two punch — an adverse court ruling dealing with their methane emissions and now an investor-led initiative pushing them to be more transparent.

    Natural gas, of course, has become the fuel of choice — a fuel that markets itself as far less pollutive than coal. But methane is its main component, which is 84 times more potent than CO2, although its lifespan is 20 years compared to 100. Indeed, methane makes up about 25% of the global warming today. read more

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    Shell Oil recently left the Corrib gas field with losses of 2 billion

    Opinion: ‘Just one week after banning fracking, we started drilling for oil’

    We need a just transition to a low carbon economy, not a sell-off of our future, write Sinead Mercier and Louise Michelle Fitzgerald.

    IN AN ORWELLIAN twist of double-speak, on 11 July, just one week after onshore fracking was banned in Ireland, Minister of Communications, Climate Action and Environment Denis Naughten granted consent to Providence Resources PLC to commence drilling for oil in the Porcupine Basin off our south-west coast.

    If catastrophic climate change is to be avoided, existing fossil fuels must be kept in the ground. Providence Resources states that they expect to find 5 billion barrels of oil.

    As George Orwell wrote in 1984, “doublethink means the power of holding two contradictory beliefs in one’s mind simultaneously, and accepting both of them”. read more

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    Energy transition chatter should go beyond Western viewpoints, says Shell CEO

    Don’t be tone deaf to energy transition concerns of emerging economies, Ben van Beurden tells the World Petroleum Congress.

    By in Istanbul, Turkey: July 11, 2017 08:02 BST

    Discussions over the global energy mix and the transition to a low carbon global economy should not only focus on Western perspectives, according to Royal Dutch Shell’s chief executive officer Ben van Beurden.

    Speaking at the 22nd World Petroleum Congress in Istanbul, Turkey, van Beurden said “too often” energy transition is considered from the perspective of the European or the North American end-user.

    “And it is true, that these areas of the world have a historical responsibility for the greenhouse gases in our atmosphere which translates into a responsibility to act today. read more

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    Shell Plans to Spend $1 Billion a Year on Clean Energy by 2020

    Royal Dutch Shell Plc plans to spend as much as $1 billion a year on its New Energies division as the transition toward renewable power and electric cars accelerates.

    “In some parts of the world we are beginning to see battery electric cars starting to gain consumer acceptance” while wind and solar costs are falling fast, Shell CEO Ben Van Beurden said in a speech in Istanbul on Monday. “All of this is good news for the world and must accelerate,” while still offering opportunities for producers of fossil fuels. read more

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    Shell Welcomes Final Recommendations in Climate Report

    by  Rigzone Staff: Thursday, June 29, 2017

    Royal Dutch Shell plc has welcomed the final recommendations set out in a report published Thursday by the Task Force on Climate-Related Financial Disclosures (TCFD). 

    “I agree that companies should be clear about how they plan to be resilient in the face of climate change and energy transition,” Shell CEO Ben van Beurden said in a company statement.

    “I believe it is right that it should be transparent which companies are truly on firm foundations over the long-term. I applaud the task force for its work to achieve this aim and I have signed a letter confirming Shell’s support for the initiative,” he added. read more

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    Shell endorses climate task-force recommendations

    By Daniel J. Graeber: June 29, 2017

    June 29 (UPI) — The first in the industry, Royal Dutch Shell said it’s aligned with a transparency measure on climate steered by former New York Mayor Michael Bloomberg.

    “I agree that companies should be clear about how they plan to be resilient in the face of climate change and energy transition,” Shell CEO Ben van Beurden said in a statement.

    Bloomberg steered efforts through the multilateral Task Force on Climate-related Financial Disclosures, which said the transition to a low-carbon economy could require as much as $1 trillion in net investments per year. read more

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