Shell Pledges $300mn To Reducing Carbon Footprint

Royal Dutch Shell will invest $300mn over the next three years in a programme aimed at reducing its carbon footprint, the company announced April 8.

The scheme will allow Shell customers in the Netherlands to offset carbon emissions by buying credits to support environmental projects at petrol stations. The money collected will be invested in projects such as tree planting.

The scheme counts towards Shell’s target to cut its net carbon footprint by 2-3% within three years. That target includes ‘Scope 3’ emissions; those generated by Shell customers rather than company operations.

Shell said the “programme to invest in natural ecosystems as part of its strategy to act on global climate change, include[es] addressing carbon dioxide (CO2) emissions generated by customers when using its products.”

Customers “will be able to drive carbon neutral through the use of nature-based carbon credits,” a company statement explained.

However, Shell will only pay the costs for those choosing more expensive fuels will “This will be done at no extra cost for customers who choose Shell V-Power petrol or diesel, while those who fill up with regular Shell petrol or diesel can participate for an additional 1 cent a litre,” the statement continued.

Shell plans to implement similar schemes in other countries soon. The UK will join the programme later in 2019.

“There is no single solution to tackling climate change,” added CEO Ben van Beurden. “A transformation of the global energy system is needed, from electricity generation to industry and transport.”