Shell weakens targets for carbon-emission cuts in next decade

The change reflects Shell’s move away from supplying renewable power to homes

Shell’s spending on low-carbon energy may also slow in the coming years. It plans to invest $10bn (€9.1bn) to $15bn (€13.75bn) between 2023 and 2025, $5.6bn of which was already spent in 2023. 

Shell weakened its targets for carbon-emissions cuts in the coming decade, while maintaining the ambition of becoming a net zero company by 2050.

The change is the latest sign of a broader adjustment in plans for the energy transition among the UK-based oil majors, which have been under pressure from activist investors to focus on their core petroleum businesses. BP last year said it would pump more oil and gas and have higher emissions this decade than previously planned.