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Shell likely to miss own emission reduction goals, shareholder group says

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Shell likely to miss own emission reduction goals, shareholder group says

Oct. 22, 2021 12:32 PM ETRoyal Dutch Shell plc (RDS.A)RDS.BBy: Carl SurranSA News Editor
  • Royal Dutch Shell (RDS.ARDS.B) is on track to miss its own emission reduction targets in the coming decades, according to a new analysis by Global Climate Insights.
  • Shell’s energy transition strategy “is still materially driven by fuels that will increase emissions, producing a growth strategy that will not truly align with a decarbonizing world,” the study says, as reported by Bloomberg.
  • The research casts doubt on Shell’s own climate goals as well as its ability to comply with a landmark Dutch court order earlier this year to cut emissions 45% by 2030 from 2019 levels.
  • Shell already had pledged to cut GHG emissions by 20% by 2030 and to net-zero by 2050, but GCI says the company will not meet the target established by the court ruling “and will instead increase net emissions by 4.4%.”
  • If Shell is to align with the 2015 Paris Agreement’s goals of keeping global temperature increases to 1.5 degrees Celsius, it needs to pursue growth beyond gas more aggressively, according to the report.
  • Seeking Alpha contributor Portfolio Navigator says the focus of Shell’s management on rapidly growing the dividend is “a boon for investors.”
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