Energy firm Shell has set out an energy strategy designed to make it net-zero by 2050. It says it expects its total carbon emissions to have peaked in 2018 and oil production in 2019.
Royal Dutch Shell Chief Executive Officer, Ben van Beurden said, “We must give our customers the products and services they want and need – products that have the lowest environmental impact. At the same time, we will use our established strengths to build on our competitive portfolio as we make the transition to be a net-zero emissions business in step with society.”
To achieve net-zero, Shell will grow its EV charging network from more than 60,000 charge points to around 500,000 by 2025. It will also aim to sell 560 terawatt hours a year by 2030 – twice as much electricity as it currently sells.
Shell will also extend its biofuels business working with its Brazilian subsidiary Raizen on low-carbon fuels from sugar cane – and increasing bioethanol production capacity by 50%, to 3.75 billion litres a year.
Hydrogen is also being grown with integrated hydrogen hubs to serve industry and heavy-duty transport, aiming to achieve double-digit share of global clean hydrogen sales, it said.
Shell has set a series of short-term targets to drive down carbon emissions including reducing net carbon intensity by 6-8% by 2023, 20% by 2030, 45% by 2035 and 100% by 2050.
It will seek to have access to an additional 25 million tonnes a year of carbon, capture and storage (CCS) capacity by 2035 and use nature-based solutions to offset emissions of around 120 million tonnes a year by 2030.