So here we are. Another day, another reminder that Shell remains a gold-standard sin stock — greed-fueled, PR-polished, and morally bankrupt, backed by some of the world’s biggest investors who talk green while banking on black gold.
Well, well, well. Who could’ve possibly guessed that Shell — the benevolent guardian of our planet’s fossil-fueled future — has once again decided that renewable energy just isn’t oily enough?
In an absolutely shocking (read: entirely predictable) move, Shell announced it’s ditching its solar and onshore wind power generation projects in Brazil. Why? Because apparently, saving the planet is just not generating the same kind of “sufficient returns” as, say, torching it for profit.
Of course, this isn’t just Shell being Shell. No, this is part of what the company cheerfully calls a “portfolio adjustment”. Yes, you read that right. In corporate-speak, that means: “We poked around in the books and realized sunshine can’t compete with oil-slicked dollars.”
According to Shell’s statement, “We are always exploring ways to create value from our power generation portfolio, including exiting activities that do not fit into our strategy or do not generate sufficient returns.” Translation? “If it’s not making us rich, it’s dead to us.”
And in case you were worried about Shell’s feelings, don’t. The company was quick to point out that it’s not completelyabandoning Brazil’s solar scene — they’ll still operate Prime Energy, a company dealing in “distributed generation,” i.e. the kind of solar projects that are just small enough to be a PR fig leaf while they bulldoze the rest.
Of course, Shell wants us to believe this has nothing to do with their revised global strategy — you know, the one where they slashed spending on low-carbon and renewable businesses, because investors just weren’t vibing with the whole “sustainability” thing. (Looking at you, BlackRock — still holding billions in Shell shares while pretending to care about ESG.)
The excuse-of-the-week is Brazil’s “unfavorable environment” for renewables: oversupply, sluggish demand growth, and those pesky regulations. Because when has Shell ever let regulations or poor economic outlooks stop it from drilling into the nearest ecosystem?
Let’s be honest. Shell’s love affair with renewables was never more than a speed-dating stint for headlines. The second it realized green energy wouldn’t give them oil-sized profits, they ghosted harder than a hedge fund on ethics day.
So here we are. Another day, another reminder that Shell remains a gold-standard sin stock — greed-fueled, PR-polished, and morally bankrupt, backed by some of the world’s biggest investors who talk green while banking on black gold.
Next up in Shell’s sustainability journey? Probably slapping a leaf emoji on a tanker. Stay tuned.
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