Royal Dutch Shell tries to reckon with climate change

Cross purpose

INTERNATIONAL OIL companies wrestle with the clash between their duty to deliver value to shareholders and the fact that how they produce those returns threatens the planet. A key question is whether they can reduce greenhouse-gas emissions without gutting their businesses. On December 3rd Royal Dutch Shell went further than any other oil major so far in insisting it could. The firm announced that it would set specific targets for reducing carbon emissions every three to five years, with the goal of shrinking its net carbon footprint by about half by 2050.

Shell will also ask shareholders to reward executives for managing a transition to cleaner energy, though the details are still to be worked out. Remarkably, its targets will cover not only emissions from its own production of oil and gas, but from all cars, lorries, planes and factories that eventually burn the stuff. Shell will use...

via Business Feeds

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