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Shell in $300m drive to tackle CO2 emissions

LONDON, April 12, 2019

Shell said it will invest $300 million in a three-year programme as part of its strategy to act on global climate change, including addressing carbon dioxide (CO2) emissions generated by customers when using its products.

This programme will contribute to Shell’s three-year target, beginning in 2019, to reduce its Net Carbon Footprint by 2 per cent – 3 per cent.

“There is no single solution to tackling climate change. A transformation of the global energy system is needed, from electricity generation to industry and transport,” said Ben van Beurden, chief executive officer of Royal Dutch Shell.

“Shell will play its part. Our focus on natural ecosystems is one step we are taking today to support the transition towards a low-carbon future. This comes in addition to our existing efforts, from reducing the carbon intensity of oil and gas operations to investments in renewable sources of energy.”

Mark Tercek, CEO of The Nature Conservancy, said: “Last year’s IPCC report was a wake-up call on climate: reducing emissions starts with fossil fuels. Shell’s announcement signals that one of the world’s biggest energy companies is pursuing a decarbonisation strategy with a broad set of solutions, including by investing in nature.

"By doing so, it is helping to curb global deforestation, restore vital ecosystems, and help communities develop sustainably. Shell is the first in the industry to set near-term targets for the emissions of both its operations and its products; this is clear progress, but it also illustrates how much work remains to achieve Paris climate targets. We look forward to seeing further investment from Shell in these areas.”

For customers who drive internal combustion engine vehicles, Shell is making it simpler for them to reduce their carbon footprint through low-carbon biofuels and carbon neutral driving.

From April 17, customers who fill up at a Shell service station in the Netherlands will be able to drive carbon neutral through the use of nature-based carbon credits. This will be done at no extra cost for customers who choose Shell V-Power petrol or diesel, while those who fill up with regular Shell petrol or diesel can participate for an additional 1 cent a litre.

Shell will roll out similar choices to customers in other countries, starting with the UK later this year. This complements Shell’s existing programme to help business customers avoid or reduce emissions, including supplying lower emission fuels and electric vehicle charging. Shell also offers businesses the opportunity to drive carbon neutral by compensating the CO2 emitted from driving their fleet.

At the same time, Shell also plans to invest at scale in forests, wetlands and other natural ecosystems around the world, to reduce emissions and capture more CO2 while benefitting biodiversity and local communities.

In addition, in Queensland, Australia, Shell has established an 800-hectare endangered native forest regeneration project. In Malaysia, Shell and the Sarawak state government are jointly studying the potential for a nature conservation, restoration and enhancement venture for Sarawak’s natural landscape. – TradeArabia News Service




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