Shell CEO: We will cut emissions faster but the world needs to use less oil
June 10, 2021 at 12:20
London (CNN Business) Shell will cut emissions faster than planned after being ordered to do so by a court in The Hague last month.
In a statement on Wednesday, the oil company's CEO Ben van Beurden said he was determined "to rise to the challenge."
But he kept open the option of appealing the landmark ruling that he said "singled out" Shell and was "not the answer" to tackling the climate crisisEfforts to make the world's energy system greener must address the demand for fossil fuel products and not just the supply, he added.
The Dutch court ordered Shell to slash its CO2 emissions by 45% by 2030 from 2019 levels.
It marked the first time a judge has ordered a company to comply with the Paris Agreement, which aims to limit global temperature increases to 1.5 degrees Celsius.
Shell had been targeting a 20% reduction in the carbon intensity of its business and products by 2030, and 45% by 2035.
Carbon intensity refers to the greenhouse gas emissions associated with each unit of energy the company sells.Source