Royal Dutch Shell may fail to reach green energy targets

Royal Dutch Shell is at risk of falling short on plans to invest up to $6bn (£4.6bn) in green energy projects between 2016 and the end of 2020, with its slow progress likely to raise concern that oil companies are not moving fast enough to help tackle the climate crisis.


Royal Dutch Shell may fail to reach green energy targets

With a year to go

The Anglo-Dutch oil company has spent an estimated $2bn on building a low-carbon energy and electricity generation business since setting up its “new energies” division in 2016. With a year to go, the sum is well below Shell’s own guidance that the total investment between 2016 and the end of 2020 would be between $4bn and $6bn.

© Faversham House Ltd 2022 edie news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.

Comments (1)

  1. Keiron Shatwell says:

    The problem is that in order to build solar panels or wind turbines you need oil based products. To maintain wind turbines takes oil and oil based chemicals, particularly offshore wind turbines where maintenance staff have to travel by boat or helicopter to service them.
    Even insulating electric cables takes oil based chemicals so does building the casing of electric batteries and a lot of the interior of an electric vehicle. And Greta’s transatlantic yacht used a huge amount of oil based materials in its hull, sails, rigging, fridge, life saving equipment.

    Damned if you do and damned if you don’t for the oil companies. While we can’t continue to burn it as a fuel we still need it for everything we want and need in our everyday life.

Action inspires action. Stay ahead of the curve with sustainability and energy newsletters from edie

Subscribe