Departing Shell PLC (LSE:SHEL, NYSE:SHEL) boss, Ben van Beurden, said the government should tax energy companies to help the poorest pay for bills.
Speaking at an energy conference in London, van Beurden, who is set to leave his role at the end of this year said, “One way or another there needs to be government intervention.”
“Protecting the poorest, that probably may then mean that governments need to tax people in this room to pay for it.”
Van Beurden criticised energy price caps, however, saying oil and gas and energy companies would struggle to bring on extra supply if the price incentive wasn’t there, and favoured a tax on the companies to support households.
Susannah Streeter, an investment and market analyst at Hargreaves Lansdown believes his comments point toward Shell ramping up its ESG strategy.
“Mr Van Beurden’s comments come as Shell is attempting to show it’s taking ESG much more seriously, and is on the path to a greener future,” Streeter said.