Royal Dutch Shell AGM (Tuesday 18th May)
by Graeme Evans from interactive investor
17th May 2021 09:01
Shell’s energy transition strategy will go before an advisory vote of shareholders as the oil giant takes its first steps towards becoming a net-zero emissions business by 2050.
Chief executive Ben van Beurden set out the strategy in February, outlining a focus on low-carbon operations such as wind, solar, biofuels and hydrogen over the next decade.
For the foreseeable future, Shell sees upstream operations continuing to deliver the energy supplies and cash needed to accelerate the transition towards low carbon businesses.
The CEO told shareholders: “The best way for Shell to contribute to the energy transition is to work with our customers to help shape demand for low-carbon energy products and services. In turn, the increasing need to supply low-carbon energy products and services will accelerate Shell’s transition to net zero.
“Ending our activities in oil and gas too early when they are vital to meeting today’s energy demand would not help our customers, or our shareholders.”
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