THE HAGUE (dpa-AFX) - Shell Plc (SHEL), a British oil and gas major, announced on Thursday that it will invest $10 to $15 billion from the period 2023 to the end of 2025 in low-carbon energy solutions to reduce emissions.
These investments include electric vehicle charging, bio-fuels, renewable power, hydrogen and carbon capture and storage that will support to reduce emissions for Shell and its customers.
In 2023, the company had invested $5.6 billion in low-carbon solutions, over 23 percent of its total capital spending.
By 2030, the energy major aims to achieve 15 to 20 percent reduction in the net carbon intensity of the energy products that its sells, compared with 2016, against its previous target of 20 percent.
By the end of 2023, the company had achieved over 60 percent of its target to halve emissions from its operations by 2030, compared with 2016.
The Group intends to achieve near-zero methane emissions by 2030. In 2023, it achieved 0.05 percent methane emissions intensity, significantly below the target of 0.2 percent.
In 2023, Shell achieved its target to reduce the net carbon intensity of the energy products that it sells, with a 6.3 percent reduction compared with 2016.
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