Oil company Royal Dutch Shell will reduce its greenhouse gas emissions to zero by 2050, company CEO Ben van Beurden announced Thursday.
In informing investors about the company’s plans, the manager said in a statement that the oil giant’s “ambition” is to cut emissions from the manufacturing of all its products to zero by the middle of the century at the latest.
As the CEO explained, although some parts of the business could continue to emit greenhouse gases, this fact will be “compensated” by others. Shell also plans to decrease the carbon footprint of products sold by 30% by 2035, and by 65% by 2050.
The executive insists that Shell must think in the long term, despite the “immediate challenge” imposed by the pandemic of the new coronavirus, which brought down oil prices, which will weigh on the company’s accounts and will force it to reduce the value of investments.