Global oil and gas company Shell has announced plans to establish short-term targets as part of a long-term ambition to reduce its net carbon footprint by around 20% by 2035 and by 50% in 2050. The short-term target will be set every year for the following 3-year or 5-year period starting from 2020 until 2050. These targets are not active and remain subject to shareholder approval.
Shell intends to be in line with the objectives of the 2015 Paris agreement and will publish regular updates on its progress towards lowering its net carbon footprint per unit of energy consumed every year. In order to reach this objective, the company plans to provide more low-carbon fuels such as biofuels and hydrogen to its customers, develop carbon capture and storage (CCS) projects, increase its presence in the renewable sector and develop its electric vehicle (EV) charging points network.