Shell not meeting own sustainability goals: report
Shell will not meet their emission targets, a climate report showed. The Anglo-Dutch multinational oil and gas company was also far behind in a court judgment made in a case brought by environmental organization Milieudefensie.
According to research agency Global Climate Insights, emissions will increase until 2030, instead of a mandatory reduction of 45 percent determined by the Dutch court.
In response, Shell said that the conclusions drawn by the research firm are "highly speculative." "We've always said that the plans we have now are not going to get us to net-zero emissions."
Shells said they will make new plans in due time. The company has said that it will gradually reduce its emissions to become carbon neutral by 2050. According to the research report, the company does not seem to be able to achieve its targets after 2022.
Shell said they want to reduce their emissions by one-fifth but did not name am exact percentage. Shell will miss their target by around three percent, Global Climate estimated.
The oil and gas group planned to reduce its oil production as opposed to extracting gas. The report stated that fuel emissions will increase by 66 percent, which means net greenhouse emissions will rise by 4.4 percent.
At the end of May, the court in The Hague ruled that the oil and gas company is obliged to reduce their CO2 emissions drastically. The judges determined that by 2030 emissions need to be reduced by 45 percent compared to 2019. Shell will appeal the ruling but must follow the decision until then.
Milieudefensie, which filed the lawsuit, called the results of the study "worse than expected." "It is imperative that Shell comes up with a whole new strategy, one without oil and gas," Milieudefensie director Donald Pols said.
Reporting by ANP