Page 13 - EurOil Week 29 2021

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Shell appeals against Dutch

climate ruling

NETHERLANDS ROYAL Dutch Shell has confirmed that it will the company’s intention. But he also said court
appeal against a landmark ruling by a Dutch judgements were not the way to enact change.
court that will require the oil major to toughen “We agree urgent action is needed and we
its emissions targets. will accelerate our transition to net zero,” van
Shell set some of the most ambitious targets in Beurden said in a statement. “But we will appeal
the oil industry earlier this year, vowing to reduce because a court judgement, against a single com-
the net carbon intensity of its products by 6-8% pany, is not effective. What is needed [are] clear,
by 2023, 20% by 2030, 45% by 2035 and 100% ambitious policies that will drive fundamental
by 2050, using its emissions in 2016 as a base- change across the whole energy system. Climate
line. However, the court in The Hague ruled in change is a challenge that requires both urgent
May that the major’s policy on climate was “not action and an approach that is global, collabo-
concrete and is full of conditions ... that’s not rative and encourages co-ordination between all
enough.” It called for the company to implement parties.”
a steeper reduction in its Scope 1, 2 and 3 car- Shell plans to improve energy efficiency, elim-
bon emissions of 45% by the end of the decade. inate routine flaring, develop carbon capture and
Critically, this target refers to absolute emissions storage (CCS) and supply renewable energy to its
rather than emissions intensity, which would facilities in order to reduce its Scope 1 and Scope
make it harder for Shell to grow its gas portfolio 2 emissions. It also intends to scale back its refin-
as planned. ing portfolio, striking a deal this month to sell its
Shell responded to the ruling by vowing to 37.5% interest in the 220,000 barrel per day (bpd)
fast-track its transition strategy. CEO Ben van PCK Schwedt refinery in Germany to Estonia’s
Beurden re-iterated on July 20 that this was Liwathon Group. ™

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