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Shell fails to achieve 2030 carbon emissions target

Explaining its energy transition strategy, the British energy giant said that it will become a zero emitter of carbon by 2050.

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Shell fails to achieve 2030 carbon emissions target
A pilot flame burns atop a flare stack at the refinery of the Shell Energy and Chemicals Park Rheinland in Godorf near Cologne, Germany, August 3, 2022. REUTERS/Wolfgang Rattay/File photo

LONDON, March 14: The Shell petroleum firm says it will bring its carbon emissions down to a minimum level by 2030.

Explaining its energy transition strategy, the British energy giant said that it will become a zero emitter of carbon by 2050.

Shell says it plans to reduce total emissions by 15-20 percent by 2030 compared to 2016 rates. Measuring emissions means that a firm can technically produce fossil fuels and emit them but also convert them into recycling or renewable energy.

Chief executive Wael Sawan took over in January 2023 with a pledge to upgrade projects and accelerate oil production and gas production.

With these plans, the company will prioritize values over numbers and find selective markets and segments.

Shell said that more energy would be supplied to commercial customers and less to retail customers.

Continuing this focus on reducing energy growth by 2030 will reduce the intensity of carbon emissions, the company said.

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