THE HAGUE, May 24 (Reuters) - The oil and gas industry willneed to invest up to $1 trillion per year even within the limitsof the U.N.-backed goal of curbing global warming to 2 degrees,Royal Dutch Shell's chief executive said on Tuesday.
"If collectively we find a way to stay within the 2 degree(Celsius limit), we will still need significant investment inoil and gas. I am not talking about a few millions, I am talkingabout up to a trillion dollars every year that industry has toinvest just to stay within 2 degrees in oil and gas," Ben vanBeurden said at the company's annual shareholder meeting in TheHague.
Major Shell shareholders, including Dutch pension fund PGGM,have criticised the company's climate change policy in recentyears, saying it should focus more on renewableenergy. (Reporting by Ron Bousso; Editing by Mark Potter)