Shell adjusts carbon-emission reduction targets to prioritize value
- Shell plans to slow the pace of its carbon-emission cuts on energy products sold
- Targets a 15%-20% reduction by 2030 in the net carbon intensity of energy products sold
- Rollback on carbon-emission cuts reduction due to narrowing of markets and segments
- Shell expects lower total growth of power sales to 2030
- Shell will continue to halve its absolute emissions from operations by 2030
- New target to reduce customer emissions from the use of oil products by 15%-20% by 2030
- Shell will invest $10 billion-$15 billion between 2023 and the end of 2025 in low-carbon energy solutions
Shell plans to slow the pace of its carbon-emission cuts on energy products sold, as Chief Executive Wael Sawan focuses on last year’s pledge to prioritize value. The Anglo-Dutch energy heavyweight said Thursday that it now targets a 15%-20% reduction by 2030 in the net carbon intensity of the energy products it sells, compared with the 2016 base. The rollback on the carbon-emission cuts reduction is a result of a narrowing of its markets and segments for the integrated power business, which include selling more power to commercial customers and less to retail. Shell expects lower total growth of power sales to 2030. Shell will continue to halve its absolute emissions from operations by 2030, having already achieved more than 60% of this target in 2023. It also set a new target to reduce customer emissions from the use of its oil products by 15%-20% by 2030 compared with 2021, and confirmed it will invest $10 billion-$15 billion between 2023 and the end of 2025 in low-carbon energy solutions.
Factuality Level: 7
Factuality Justification: The article provides factual information about Shell’s plans to slow the pace of its carbon-emission cuts on energy products sold. It includes specific targets set by the company and mentions the reasons behind the decision. The article does not contain significant digressions, misleading information, sensationalism, or bias. However, it could benefit from more context on the environmental impact of Shell’s decision and perspectives from environmental experts.
Noise Level: 3
Noise Justification: The article provides a detailed overview of Shell’s plans to slow the pace of its carbon-emission cuts and the reasons behind the decision. It includes specific targets, comparisons with other companies, and quotes from Shell executives. The information is relevant and focused on the topic without diving into unrelated territories. However, the article could benefit from more critical analysis and exploration of the consequences of Shell’s decision on the environment and society.
Financial Relevance: Yes
Financial Markets Impacted: The article pertains to Shell, an energy company, and its plans to slow the pace of its carbon-emission cuts. This could impact the company’s financial performance and potentially affect the energy sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses Shell’s decision to slow its carbon-emission cuts, which could have financial implications for the company and the energy sector. However, there is no mention of an extreme event or its impact.
Public Companies: Shell (not available), BP (not available), Chevron (not available), ExxonMobil (not available)
Key People: Wael Sawan (Chief Executive Officer of Shell), Ben van Beurden (former CEO of Shell), Bernard Looney (former CEO of BP)
Reported publicly:
www.marketwatch.com 
