Shell on Thursday announced a net-zero emissions target for 2050, becoming just the second major European oil company after BP to set its sights on such a goal. An expanded power business will make the biggest contribution to the shift but renewables investment will play a major role.
The British-Dutch firm will include in its targets “Scope 3” emissions, which encompass the end use of its products. Scope 3 emissions account for 85 percent of the company’s ultimate carbon footprint, and including them will require much deeper changes to Shell’s underlying business.
