Shell has unveiled the latest part of its new emission reduction strategy, announcing plans to invest $300m over the next three years in natural ecosystem-based projects.
The oil giant said the new programme, which will initially focus on reforestation partnerships in Spain and the Netherlands, is designed to support its recently announced target to reduce its Net Carbon Footprint by two to three per cent over the next three years. It added that the emissions savings that should result from the work to restore and protect natural ecosystems would also serve to address carbon emissions generated by the customers who use Shell’s products.
Ben van Beurden, chief executive at Royal Dutch Shell, said the latest investments are part of the company’s wider emission reduction strategy, which has seen the oil giant step up investment in electric vehicle charging infrastructure, renewables, and other clean technologies in recent years. Continue reading “Shell unveils $300m nature investment plan”→
Royal Dutch Shell has opened its first charging points for electric vehicles at UK filling stations in a further sign of the Anglo-Dutch group’s diversification beyond fossil fuels. Drivers will be able to recharge EVs at 10 locations, mostly in London and south-east England, by the end of the year. The launch on Wednesday follows Shell’s acquisition last week of NewMotion, one of Europe’s largest EV charging companies with 30,000 private home charging points and 50,000 public sites.
While smaller in scale than the NewMotion business, this new service provides the first Shell-branded charging points alongside petrol and diesel pumps at its own filling stations. Istvan Kapitany, head of retail for Shell, said EV charging would join an increasingly varied “mosaic of options” for drivers at its filling stations around the world, alongside biofuels, LNG, hydrogen and traditional fuels.
EVs still account for only about 1 per cent of car sales and an even smaller fraction of cars on the road but the market is growing rapidly. This is forcing oil companies to confront an increasing likelihood that oil demand will slow and eventually decline over the next few decades as cars and some other forms of transportation switch to cleaner forms of energy. Shell has gone further than most oil and gas groups in preparing for this transition, including a big shift in its portfolio from oil to lower-carbon gas and a series of investments in the electricity supply chain. Continue reading “Shell opens its first UK electric vehicle charging points”→