Shell has set new carbon emissions goals to become a net zero carbon energy company by 2050, but will continue to grow its gas business by more than 20% in the next few years. Shell’s goal is to be net zero carbon company within 30 years, including the emissions from burning its fossil fuels. The company said its oil production reached a peak in 2019, and would continue to fall by 1-2%. In contrast, BP has promised to cut its oil and gas production by 40% by 2030. Guardian business email sign-upGreenpeace described Shell’s decision to avoid tough oil production cuts by allowing its reserves to dwindle as “grotesque”.

Source: The Guardian February 11, 2021 09:40 UTC