Shell cut its scope one and two emissions in 2022
Shell rejects calls for new scope three targets
Oil major pushes back on shareholder demands amid easing ESG pressures on industry
Shell has rejected calls from some shareholders to set a medium-term target for the reduction of absolute scope three emissions from the products it sells. The oil major’s current scope three targets focus on net carbon intensity rather than absolute emissions. “The board has considered setting a scope three absolute emissions target but has found it would be against the financial interests of our shareholders and would not help to mitigate global warming,” says the oil major’s chairman, Andrew Mackenzie, in a transition progress report released in mid-March. Shell says its carbon intensity targets are fully aligned with its 2050 net-zero goal. It achieved a 3.8pc reduction in scope-three ca
Also in this section
13 December 2024
Prices in world’s largest compliance market have risen this year but remain below those seen in the EU
11 December 2024
Policymakers need to step up with a long-term, global strategy if the energy transition is ever to be a success
11 December 2024
CCUS and other carbon management technologies are gaining traction around the world, but heightened policy risk and other pressures will make 2025 a challenging year in some regions
10 December 2024
Tightened standards have helped improve the outlook for the voluntary carbon market, which is set for a record year and poised for long-term growth
