LONDON (Alliance News) - Royal Dutch Shell PLC on Monday announced a USD300 million investment into "natural ecosystems" as part of its climate change strategy.
This will help contribute to its plan, starting 2019, to reduce its net carbon footprint by between 2% to 3% over the following three years, the oil & gas major said.
"There is no single solution to tackling climate change. A transformation of the global energy system is needed, from electricity generation to industry and transport," said Ben van Beurden, Shell's chief executive.
"Shell will play its part. Our focus on natural ecosystems is one step we are taking today to support the transition towards a low-carbon future."
"This comes in addition to our existing efforts, from reducing the carbon intensity of oil and gas operations to investments in renewable sources of energy," van Beurden continued.
Shell is to invest in electric vehicle charging points in the Netherlands and the UK, and then elsewhere. It is also setting up carbon credit schemes at its fuel stations, again starting in the Netherlands and the UK.
"Carbon dioxide emissions generated by participating motorists, as well as from the extraction, refining and distribution of the fuel, will be offset by carbon credits," said Shell.
"As one of the most established traders of carbon credits in the world, Shell buys these credits from a global portfolio of nature-based projects, including Cordillera Azul National Park project in Peru, Katingan Peatland Restoration & Conservation project in Indonesia and GreenTrees Reforestation project in the USA."
Other initiatives include reforestation projects in Spain and Malaysia.
On Sunday, the Financial Times reported environmental activist shareholder group Follow This is to switch its focus to other companies after deciding Shell has become "an industry leader" in adopting emissions targets.
https://www.ft.com/content/31899332-593b-11e9-9dde-7aedca0a081a
Shell 'A' shares were 0.3% higher Monday morning at 2,482.50 pence each, with Shell 'B' shares up 0.2% at 2,501.65p.
