Shell to Speed Up Transition After Ruling

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Royal Dutch Shell will speed up its plans to cut greenhouse gas emissions, even as it appeals a Dutch court ruling that it must make a greater effort to limit the negative impacts of climate change. "For Shell, this ruling does not mean a change, but rather an acceleration of our strategy," CEO Ben van Beurden said in a lengthy LinkedIn post. "That is likely to mean taking some bold but measured steps over the coming years," he said. But Van Beurden also emphasized the need to remain "profitable" in order to make the new investments required to shift the company toward new and cleaner business lines. The court's decision ordered Shell to cut its absolute emissions 45% by 2030, a ruling that the judge argued was needed to minimize the negative impacts of climate change (OD May26'21). That will require a significantly greater effort than Shell's previously adopted target of a 20% cut in its carbon intensity -- emissions per unit of energy produced and sold -- by 2030 on the way to attaining net-zero emissions by 2050. Shell has said it plans to appeal the ruling.

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