Shell has pledged to cut its net carbon footprint 50% by 2050.
The aim relates not just to its own energy use, but the carbon generated from use of its fossil fuels by customers, or the lifecycle from production to consumption.
“Shell aims to cut the net carbon footprint of its energy products – expressed in grams of CO2 per megajoule consumed – by around half by 2050. As an interim step, by 2035, we aim to reduce it by around 20%,” said CEO Ben van Beurden.
“We will do this in step with society’s drive to align with the Paris goals, and we will do it by reducing the net carbon footprint of the full range of Shell emissions, from our operations and from the consumption of our products.”
In an update to investors, the company also said it would double the capital it allocates to developing new energies to $2bn a year.
Shell’s new energies division was set up to deliver lower carbon energy. Core areas of focus are new fuels for transport, renewable power and digital connectivity.