Shell's Retreat: Weakened 2030 Carbon Emissions Target Sparks Concern
Shell has weakened its 2030 carbon emissions reduction target and scrapped its 2035 objective, citing strong gas demand and uncertainty in the energy transition. The company plans to cut emissions to net zero by 2050 and has introduced a new target to reduce emissions from oil product sales by 15-20% by 2030. This shift follows similar moves by other oil majors and comes amid increased investor pressure to focus on profitable businesses. Shell's CEO aims to focus on higher-margin projects, steady oil output, and growth in natural gas production to boost returns.