Shell Announces $3 Billion Investment in Renewable Projects to Offset Carbon Emissions by 2050

Written by Roberta Souza

Published on 18/02/2021 at 21:53

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The Goal of Shell Is to Reach Zero Emissions by 2050 and With That Make Investments in the Renewable Market

Shell, an Anglo-Dutch multinational, announced its strategy to achieve zero carbon emissions by 2050. The company will invest US$ 2 to US$ 3 billion annually in renewable energy projects. However, contrary to this goal, the company also announced that it allocated US$ 8 billion of its annual resources to oil production and US$ 4 billion to natural gas.

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Ben van Beurden, CEO of Royal Dutch Shell, says, “Our goal will reduce carbon emissions and deliver value to our shareholders, customers, and society at large. We must provide the services they want and need – products with the least environmental impact.”

The CEO further stated, “At the same time, we will leverage our established strengths to build a competitive portfolio as we transition to being a net-zero emissions business in harmony with society.”

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Commitment to Carbon Emissions:

In addition to abandoning fossil fuels, the Anglo-Dutch company also hopes to increase its appeal to investors concerned about the energy giant’s ability to reduce greenhouse gas emissions in a changing world.

Shell announced in October 2020 that it would increase its spending on low-carbon energy by 25% within five years. Recently, the company announced that it wanted to develop a solar energy project in Paraíba. The project consists of seven parks with an installed capacity of approximately 323 MW. The request for approval from Aneel is the first step to enable energy generation projects.

Shell Announces $3 Billion Investment in Renewable Projects to Offset Carbon Emissions by 2050

The Goal of Shell Is to Reach Zero Emissions by 2050 and With That Make Investments in the Renewable Market

Read Other News:

Commitment to Carbon Emissions:

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Shell Announces $3 Billion Investment in Renewable Projects to Offset Carbon Emissions by 2050

The Goal of Shell Is to Reach Zero Emissions by 2050 and With That Make Investments in the Renewable Market

Read Other News:

Commitment to Carbon Emissions:

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

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Viaduct used every day by cars, buses, and pedestrians in the center of a São Paulo city becomes a legal case after a report indicates “imminent danger,” cracks, corrosion, and high lethality risk.

Project created by a UFS student defeats European competitors in an engineering award held in Paris and highlights the advancement of Brazilian science with an innovative solution, developed in a public academic environment and recognized by international experts in the technological field.

The seemingly endless sand is disappearing: the world extracts 50 billion tons per year from rivers and beaches, a volume comparable to 19,000 pyramids of Giza, while mafias profit, islands disappear, and city concrete is threatened until 2050.

Scientists drill 8,000 feet of ice in Antarctica and race against time before the hole freezes over again to bury the world’s deepest seismometers and turn the South Pole into a giant ear for earthquakes across the entire planet.

Rice in space becomes a scientific bet for China to understand how microgravity can alter the genetics of the most important grain for Asian food security and reveal if future generations of the plant can be born, grow, and maintain their biological identity away from Earth.