Shell has set out its strategy to accelerate its transformation into a provider of net-zero emissions energy products and services, powered by growth in its customer-facing businesses.
The company in a statement posted on its website said, “A disciplined cash allocation framework and rigorous approach to driving down carbon emissions will deliver value for shareholders, customers and wider society” Shell also confirmed its expectation that total carbon emissions for the company peaked in 2018, and oil production peaked in 2019. “Our accelerated strategy will drive down carbon emissions and will deliver value for our shareholders, our customers and wider society,” said Royal Dutch Shell Chief Executive Officer, Ben van Beurden. “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. “Whether our customers are motorists, households or businesses, we will use our global scale and trusted brand to grow in markets where demand for cleaner products and services is strongest, delivering more predictable cash flows and generating higher returns.”
Shell said it was integrating its strategy, portfolio, environmental and social ambitions under the goals of Powering Progress: generating shareholder value, achieving net-zero emissions, powering lives and respecting nature.