Insight
Shell's new climate ambition: the devil is in the detail
Report summary
Shell unveiled its new climate ambition in April 2020, positioning to become a “net-zero energy business” by 2050. This marks a big upgrade to the net carbon footprint ambition that it launched in November 2017. The move will be greeted with mixed views at the extremes. Fans will see it as a progressive and innovative evolution of an already ambitious strategy. Sceptics will see it as retrograde, and push for Shell to set aggressive, no-strings net-zero Scope 3 targets. But perhaps the main risk for Shell is that most stakeholders simply won’t get it. The commitment around net-zero customers adds further complexity and nuance to an already complicated story. Guiding investors on the journey from Big Oil to Big Energy, while keeping broader opinion onside, will remain the defining challenge for Shell over the coming years.
Table of contents
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Executive summary
- What did Shell announce?
- Our take
- NCF ambition 1.5°C and net-zero emissions from own operations
- Partnering for decarbonisation of energy use
- Net-zero customers
- The devil is in the detail (who, what, how, when ?)
- Difficult questions, nuanced answers
- Mixed views at the extremes
- but mainly just confused?
Tables and charts
This report includes 2 images and tables including:
- Carbon emissions, Scope 1, 2 and 3 (annual, MteCO2e)
What's included
This report contains:
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