Responsible Investment Annual Briefing updates - Seite 2

Link here for more details on Shell’s climate ambitions  www.shell.com/netzeroambition

Also published today is an update to the 2019 Industry Associations Climate Review, available here www.shell.com/advocacy

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Notes to editors:                  

1. In 2017, Shell was the first international oil and gas company to set the ambition to reduce the Net Carbon Footprint of the energy products it sells, expressed as a measure of carbon intensity, taking into account their full life-cycle emissions. Shell aimed to reduce the Net Carbon Footprint of its energy products by around half by 2050, and by around 20% by 2035, in step with society’s drive to meet the goals of the Paris Agreement. In 2018, with unprecedented levels of collaboration with investors, Shell announced its intention to build on that long-term ambition with the commitment to setting specific Net Carbon Footprint targets for shorter periods, of three or five years, linking them to executive remuneration. In early 2019 Shell set an unconditional three-year target (to 2021) to reduce its Net Carbon Footprint by 2% to 3% compared to 2016, linked to senior executive remuneration. For the 2020 unconditional three-year target (to 2022) the target range is a 3-4% reduction in its Net Carbon Footprint against the 2016 baseline, linked to remuneration for more than 16,500 staff. It is intended that this target setting will be done annually, with each year’s target covering a three-year period.
2. Shell will track and report on progress in achieving both the aim to reduce the Net Carbon Footprint of the energy products it supplies, as well as progress towards achieving net-zero emissions from its operations. Shell will also work to develop a method for tracking and reporting emission reduction by its customers. Tracking and reporting the reduction of customer emissions will require the development of appropriate accounting methodologies and frameworks.
3. As of today, Shell’s operating plans and budgets do not reflect these newly announced ambitions. Shell’s aim is that, in the future, its operating plans and budgets will change to reflect this movement towards its new net-zero emissions ambition. These plans and budgets need to be in step with the movement towards a net-zero emissions economy within society and among Shell’s customers.
4. Shell is assisting customers, communities and colleagues in a number of ways in response to COVID-19. Steps include enhanced health and safety measures at all our retail sites globally, and free food and drink at more than 15,000 retail sites across 30 countries for health-care professionals, truck drivers and delivery people. Other measures include donating ingredients for hand-sanitising products across several countries, including 2.5 million litres of isopropyl alcohol to the Dutch health-care sector. To read about Shell’s full response across the globe to COVID-19, go to www.shell.com/covid19

Cautionary note