Shell lowers 2030 emissions cut target

Shell has revised its carbon emissions reduction target for 2030 due to lower power sales expectations, Reuters reported on Thursday.

The company aims to reduce the net carbon intensity of its energy products by 15-20 per cent compared to 2016 levels, down from the previous target of 20 per cent.

CEO Wael Sawan is focusing on higher-margin projects and growth in natural gas production.

Shell plans to sell more power to commercial customers and less to retail customers, leading to a lower total growth in power sales.

Additionally, the company aims to reduce customer emissions from its oil products by 15-20 per cent by 2030 compared to 2021 levels.