Royal Dutch Shell PLC (LSE:RDSB) said it is targeting a 50% cut in absolute emissions by 2030 compared with 2016, following a Dutch court ruling earlier this year and with its bank account brimming with cash takings from elevated oil and gas prices.
The Anglo-Dutch oil company said the reduction target covers all scope 1 and 2 emissions under its operational control and is part of its goal to become a net-zero emissions energy business by 2050.
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In May this year, a Dutch court ordered Shell to reduce emissions by 45% by 2030 compared to 2019 levels.
The company has said it will appeal against the ruling, but in today’s statement it announced it is rising “to meet the challenge of the Dutch Court’s ruling for our scope 1 and 2 emissions, which Shell expects to meet by 2030”.
It said its 2022 business plan will reflect the new target, “which we are committed to delivering regardless of whether we win or lose our appeal against the ruling”.
Shell is also bringing forward its target to eliminate routine gas flaring from its upstream operated assets from 2030 to 2025.