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Annett Michuki..
3 w
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Shell has argued that it “lobbies for, not against, the energy transition” on the final day of its appeal against an important climate ruling. The fossil fuel company is fighting the decision of a Dutch court in 2021 that forces it to pump 45% less planet-heating CO2 into the atmosphere by 2030 than it did in 2019. In court on Friday, Shell argued the ruling is ineffective, onerous and does not fit into the existing legal system. Lawyers for Milieudefensie (Friends of the Earth Netherlands), which brought the case against Shell, repeated their calls for the company to act in line with climate science and international agreements to stop extreme weather from growing more violent. They said the outcome of the case will determine how much the climate changes. https://www.theguardian.com/environment/2024/apr/12/shell-says-it-lobbies-for-energy-transition-during-climate-ruling-appeal
Shell says it ‘lobbies for energy transition’ during climate ruling appeal
Company is fighting Dutch court ruling that says it must emit 45% less CO2 by 2030 than in 2019
https://www.theguardian.com/environment/2024/apr/12/shell-says-it-lobbies-for-energy-transition-during-climate-ruling-appeal
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Markus Lutteman
7 w
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Few things infuriate me more than when mega-profitable oil giants decide to scale back their climate targets instead of doing the right thing and start investing heavily in alternatives to fossil energy. Shell now says it aims for a 15-20% reduction by 2030, rather than the previous target of 20%. The oil giant, which delivered a record $40 billion profit in 2022, plans to grow its liquified natural gas business and hold its oil production steady until 2030. Future historians will not be kind to Shell and its partners in crime. It's time to Move the Money! Learn more: https://www.theguardian.com/business/2024/mar/14/shell-warns-it-may-slow-emissions-reduction-during-crucial-climate-decade
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Shell cannot afford to derail the imminent climate catastrophe by setting unrealistic targets.
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7 w
Despicable board/owners
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Shell cannot afford to derail the imminent climate catastrophe by setting unrealistic targets. Multinational fossil fuel companies need to cooperate for the world to win the war against climate change.
The Energy giant shell has watered down a key climate pledge to cut its carbon emissions and instead pledged an increase in production and sale of liquefied natural gas. According to the shell CEO Sawan he says that the world is risk of energy shortage unless more money is invested in drilling oil and gas, a decision that has sparked anger to climate campaigners and goes against advice from climate experts who have said there can be no new oil and gas projects if the world hopes to avoid a climate crisis. https://www.theguardian.com/business/2024/mar/14/shell-warns-it-may-slow-emissions-reduction-during-crucial-climate-decade
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It's concerning to see Shell backtrack on its carbon emissions cut pledge, especially during a crucial climate decade.
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7 w
Shell cannot afford to push us back in the fight against climate change.Being a multinational fossil fuel company,its efforts are realy needed for the world to win this war.
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7 w
This is so disappointing. This is a setback during a crucial time for climate action. This decision underscores the importance of holding corporations accountable for their sustainability goals and the need for stronger commitments to combat the climate crisis.
Sven Nilson
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The oil group Shell is lowering its ambitions to reduce climate-dangerous carbon dioxide emissions. In an update to its strategy, company management now aims to reduce emissions by between 15 and 20 percent by 2030. The previous target was 20 percent. Published: March 14, 2024, 8:50 a.m. DI
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They were never committed in the first place
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7 w
I debunk with this one. How do they lower emission?
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We should push and enable Shell to invest heavily in deep geothermal
Unknown
10 w
The venture, Onward, is owned by Shell .Onward touts a vision of a ‘clean energy future but experts say that ventures like this are part of fossil fuel firms’ greenwashing plan . An analysis by Drilled and the Guardian has found that ,despite an abundance of green imagery and language, much of the Onward platform’s existing content appears to focus on improving oil and gas outcomes . Projects like onwards allows shell to pretend it’s helping find solutions instead of just accelerating the climate crisis . The site’s “Projects” section is a short-term job board hosting dozens of jobs in oil and gas exploration (the hiring companies are kept anonymous). Of the five projects with available descriptions, all but one are explicitly for oil and gas production, while many more of the archived jobs on the platform also appear to be for oil and gas. https://www.theguardian.com/us-news/2024/feb/26/shell-climate-tech-startup-onward-oil-gas-jobs-greenwashing
‘A Trojan horse of legitimacy’: Shell launches a ‘climate tech’ startup advertising jobs in oil and gas
Onward touts a vision of a ‘clean energy future’, but experts say ventures like this are part of fossil fuel firms’ greenwashing plan
https://www.theguardian.com/us-news/2024/feb/26/shell-climate-tech-startup-onward-oil-gas-jobs-greenwashing
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Advertising jobs in this context appears misleading, potentially diverting attention from the environmental impact of their core operations.
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10 w
This is so disgusting, Shell should stop this campaigns to blind people that they are doing greening of the environment when they in real sense doing the opposite. 'Onward' venture should be dropped immediately or rather used for the right mission and vision by Shell. Shell must change and invest in clean and renewable energy now.
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10 w
Why pretend they are willing to help go green in the first place.its discouraging that other human beings are willing to destroy others for their own personal gain.
Munene Mugambi
12 w
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In a damning report, Shell is accused of attempting to shirk accountability for the catastrophic oil spill in Nigeria. The article highlights the company's alleged tactics in downplaying its role and responsibility, raising serious ethical concerns. Critics argue that Shell's response reflects a pattern of corporate evasion, leaving affected communities grappling with the aftermath of environmental devastation. The oil giant's attempts to distance itself from the Nigerian oil spill only deepen suspicions about its commitment to addressing the grave consequences of its operations, prompting calls for a thorough investigation into the company's practices. https://www.climatechangenews.com/2024/02/13/shell-accused-of-trying-to-wash-hands-of-nigerian-oil-spill-mess/
Shell accused of trying to wash hands of Nigerian oil spill mess
Nigerian oil spill messes created by Shell have ruined farms and fisheries and locals want compensation before it sells up
https://www.climatechangenews.com/2024/02/13/shell-accused-of-trying-to-wash-hands-of-nigerian-oil-spill-mess/
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Shell should stay accountable for their own doing.
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11 w
This sounds insensitive, shell must take responsibility of the oil spillage in Nigeria and take the right measures to recover the lost glory of nature.
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This is a serious matter which should be looked at keenly .Let investigation be carried out ,if shell will be found as the root cause of the oil spillage ,then it should take the responsibility
Sarah Chabane
15 w
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Shell's recent decision to sell its onshore business in Nigeria's Niger Delta, worth $2.4 billion is creating controversy. The fossil energy giant's move is portrayed as an effort to streamline operations, good for them! However, it coincides with increasing criticism regarding the impact of its oil exploration in Nigeria. Of course, this move also questions the """ethics""" of exploiting a region for profit and then disengaging without addressing the ecological and social consequences. For decades, Shell has faced local resistance to the environmental devastation caused by its oil operations in the Niger Delta. The region has endured oil spills that contaminated rivers, disrupted agriculture, and exacerbated tensions, contributing to years of militant activity. The sale of its onshore business appears as a convenient exit strategy for Shell, allowing it to limit exposure to the environmental and human rights concerns surrounding its operations in Nigeria. The assets being sold, largely owned by the Nigerian government's national oil company NNPC, include 15 onshore mining leases and three shallow-water operations. The government's approval is essential to close the deal, and activists in the Niger Delta are urging officials to withhold it unless Shell addresses the environmental damage caused by its operations. For a taste of what these damages can look like, check out this video below 👇 https://www.youtube.com/watch?v=vNaEmt0_bAs Nigeria heavily relies on the Niger Delta's petroleum resources for its earnings but the pollution resulting from oil and natural gas production has deprived residents of clean water, harmed agriculture and fishing, and heightened tensions in the region. While Shell claims the sale has been designed to allow them to conduct remediation as the operator of the joint venture where spills may have occurred, activists are sceptical and demand a comprehensive plan for environmental restoration and community compensation. Also good to know that Shell is not exiting Nigeria entirely and will continue to invest in the country, focusing on its deepwater oil operations and integrated gas business. Shell's divestment, while framed as a business decision should be made an example. You can't use a country and throw it away like a dirty tissue once you decide you are done. If these legacy issues are left unaddressed they may disrupt even more the region, there is a need to hold big oil responsible for implementing ethical practices and reparations in the extraction industry. https://www.euronews.com/business/2024/01/17/shell-to-sell-big-piece-of-nigeria-oil-business-but-activists-want-pollution-cleaned-up#:~:text=Shell%20has%20agreed%20to%20sell,caused%20by%20the%20oil%20industry https://www.theguardian.com/environment/ng-interactive/2022/jun/01/oil-pollution-spill-nigeria-shell-lawsuit
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The disengagement without proper address of the social and ecological ethics goes to show that shell really did exploit oil exploration in Nigeria
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15 w
Such big oil companies as shell should consider investing in clean energy and still make margins
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We must unite to ensure that the polluters must pay
Rashid Kamau
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The British oil and gas major filed the claim in London's High Court. Greenpeace activists boarded the vessel in January near the Canary Islands off the Atlantic coast of northern Africa to protest oil drilling and travelled on it as far as Norway. https://www.cnn.com/2023/11/09/energy/shell-sues-greenpeace-oil-vessel-climate-intl/index.html
Shell sues Greenpeace for $2.1 million after boarding oil vessel | CNN Business
https://www.cnn.com/2023/11/09/energy/shell-sues-greenpeace-oil-vessel-climate-intl/index.html
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Totally unbelievable
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25 w
This is so absurd, shell should do the right thing to save our climate from crushing and stop the irrelevant confrontations.
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Shell's time is coming, don't worry.
johnte ndeto
26 w
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British oil giant Shell on Thursday reported $6.2 billion profit for the third quarter, roughly in line with estimates, as the company benefited from higher oil prices and refining margins. Analysts expected adjusted earnings of $6.48 billion, according to an LSEG-compiled consensus. Profit was higher than the $5.1 billion of the second quarter, but marked a sharp decline from the $9.45 billion reported a year ago, when the Russia-Ukraine conflict bolstered oil and gas prices. The company also announced a $3.5 billion share buyback to be carried out over the next three months. Shell CEO Wael Sawan said the $6.5 billion set for the second half of the year was now "well in excess" of the $5 billion announced in June. "Shell delivered another quarter of strong operational and financial performance, capturing opportunities in volatile commodity markets," Sawan said in a statement. Free cash flow fell from $12.1 billion in the second quarter to $7.5 billion. Cash capital expenditure rose from $5.1 billion to $5.6 billion. Energy majors are coming off the back of a record year for profits, which was fuelled by soaring fossil fuel prices. Oil prices have again risen sharply through the third quarter 2023 on the back of factors including Saudi Arabian and Russian supply cuts, while the International Energy Agency has said oil markets will remain on edge amid the escalation in conflict in the Middle East. BP on Tuesday posted a year-on-year fall in third-quarter profit from $8.15 billion to $3.293 billion, below analyst estimates, though France's TotalEnergies slightly outperformed last week. While BP said its muted quarterly performance was partly due to weakness in gas marketing and trading, Shell said performance in its integrated gas division was steady, noting favorable trading. Shell's renewables and energy solutions division meanwhile reported a $67 million loss, which it attributed to weaker margins due to seasonal effects and lower trading. Capital expenditure was $659 million. The results come amid criticism over the pace of the company's decarbonization program, including from groups of its own shareholders. Shell confirmed last week that it will cut 200 positions within its low-carbon solutions unit in 2024. "Another share buyback should be good news for shareholders, but there is little said about its plans to achieve net zero in today's update – this remains a longer term concern for many, after the company announced its decision to focus on oil and gas production earlier this year," Stuart Lamont, investment manager at RBC Brewin Dolphin, said in a note. "With the geopolitical environment still volatile, oil prices look likely to continue recent rises which should mean a strong final quarter for Shell." London-listed shares of Shell were 1.1% higher at 8:30 a.m. on Thursday. https://www.google.com/amp/s/www.cnbc.com/amp/2023/11/02/shell-posts-6point2-billion-profit-announces-3point5-billion-buyback.html
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14 w
Shell is just a mess to our mission.
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26 w
Tax fossil fuels!
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26 w
Congratulations to them! Too bad for people and the planet 😞
Elizabeth Gathigia
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The giant oil and gas company, has angered climate campaigners with its plan to pay shareholders $23bn this year, which is more than six times the amount the company plan to spend on renewable energy this year. The climate campaigners calls for more of the company cash to go towards renewable energy investment. The company also prepares to cut jobs from low carbon division and focus on high profit oil projects. https://www.theguardian.com/business/2023/nov/02/shells-moves-ahead-with-35bn-shareholder-windfall-despite-profits-fall
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Until when will shell stop receiving climate warnings?? Some of this profits could be used in investment to renewable energy which is clean.
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26 w
This is a great concern that must be addressed. Clean and renewable energy is so vital and support from oil and gas companies would go a way.
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To me I would think that they should show us a plan on how they plan to ditch fossils to renewable
Unknown
27 w
Shell will cut 200 positions within its low-carbon solutions unit in 2024, a spokesperson confirmed to CNBC on Wednesday. The company’s low-carbon division helps spearhead Shell’s transition to clean energy including hydrogen, given its pledge to become a “net-zero emissions energy business” by 2050. The company will switch some of the jobs in question to other divisions within Shell’s over 90,000-employee workforce, and an additional 130 roles will be put “under review” throughout 2024, said the spokesperson. https://www.cnbc.com/2023/10/25/shell-will-cut-200-jobs-in-its-low-carbon-division.html
Shell will cut 200 jobs in clean energy division
Shell is planning to cut 200 jobs in 2024, in a move to downsize its low-carbon energy solutions unit.
https://www.cnbc.com/2023/10/25/shell-will-cut-200-jobs-in-its-low-carbon-division.html
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Totally unbelievable
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27 w
This is a disgrace! It really shows who they are.
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27 w
Their action and decision to downsize jobs sounds to be hypocritical because they didn't secure a grant from the $7 billion of federal funding and their reason to dig deep why their Louisiana hub was not funded speaks volumes.
Elizabeth Gathigia
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Climate activists have condemned shell for paying influencers to showcase marketing game from new gasoline campaign,. The giant oil company and a major climate change contributor has begun targeting the youth by polluting their video games experience with a " shell ultimate road trips campaign. https://amp.theguardian.com/us-news/2023/oct/06/shell-fortnite-game-youth-marketing-campaign-fossil-fuels
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That's the least the world should expect from shell!!
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It's so dissapointing
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Shell must pay and be held accountable
Patrik Lobergh
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Shell is putting German solar storage manufacturer Sonnen up for sale. The oil company wanted to become one of the largest electricity suppliers. But Shell is gradually withdrawing from the business with private customers. Only four years ago, Shell announced that it wanted to become one of the largest electricity suppliers in the world. Only four years after the purchase of the Bavarian battery manufacturer Sonnen, the British oil and gas group Shell wants to put the company up for sale again. The Handelsblatt learned this from financial circles. The deal could be worthwhile for Shell, as several people familiar with the transaction said: The valuation of the storage company from the Allgäu could be between 1.35 and 1.8 billion euros, three to four times the turnover of 450 million expected for 2023 Euro. Shell had paid around 500 million euros in 2019. Interested parties should be able to bid for either 51 percent or the entire company. Shell declined to comment. Just a few days ago, the oil company sold its entire electricity customer business in the private customer sector in Germany and Great Britain to British rival Octopus Energy. In addition, the oil company has scrapped several projects in the areas of wind energy and biofuels in recent months. Ruthless focus on performance at Shell https://app.handelsblatt.com/unternehmen/energie/energie-shell-stellt-deutschen-solarspeicher-hersteller-sonnen-zum-verkauf/29374068.html
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If Shell and the fossil fuel companies don’t change quickly into renewable energy they will soon only hold stranded assets
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34 w
Am not surprised by this, they have always been climate actors.
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This decision raises serious concerns about their commitment to combating climate change and transitioning to a more sustainable future.
Patrik Lobergh
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Shell, BP, Total Energies: Oil companies invested only a fraction of their money in renewable energies in 2022 Despite record profits, oil companies only invested a fraction in renewable energies in 2022 Despite the climate crisis, oil multinationals continue to invest heavily in fossil projects, as a new Greenpeace study shows. According to the environmental organization, the corporations are "steering the world deeper into the crisis". The environmental organization Greenpeace has accused the large European energy companies of slowing down progress in climate protection. A study commissioned by the environmental organization found that almost 93 percent of the investments made by the twelve oil and gas companies in 2022 went into fossil projects. Only around seven percent of the investments went into renewable energies. The Energy Comment study evaluated the annual reports of BP, Total Energies, Shell, Wintershall Dea and other corporations. "Oil multinationals like Shell and BP are largely to blame for today's climate crisis, and they are abusing their record profits to steer the world deeper into this crisis," said Lisa Göldner of Greenpeace. The results also showed that renewables “had a tiny share of the energy production of the twelve companies last year” at 0.3 percent. At the same time, according to Greenpeace, the companies were able to increase their profits by 75 percent. "These companies talk a lot about becoming climate-neutral by 2050, but not a single one of them has a plausible strategy for achieving this goal," said Göldner. Instead of relying on renewables or producing green hydrogen, the companies tried to "continue to make money with their dirty business". This slows down the energy transition and exacerbates the climate crisis. Shell, BP, Exxon: Oil multinationals are apparently cashing in on their climate targets. The British newspaper "Guardian" recently reported that oil multinationals have conceded their climate targets. The newspaper reported that BP had significantly revised its original target of reducing CO₂ emissions by 35 percent by 2030. Instead, only 20 to 30 percent minus should be achieved. ExxonMobil has stopped funding a prestigious project to produce low-carbon fuels from algae. Instead, CEO Darren Woods recently announced at a conference that he wants US shale oil fields to be produced within the next five years When asked, Shell said the strategy to become a zero-emission energy company by 2050 remains in place. It plans to invest between $10 billion and $15 billion between 2023 and 2025 to support further development of low-carbon energy solutions such as biofuels, hydrogen, e-mobility and carbon sequestration (CCS). However, it is assumed "that global energy demand will continue to rise and will be covered by various energy sources, including oil and gas," according to a Shell spokesman. BP said the study misrepresented the company's strategy and investments. The report's claim that 97 percent of investment goes into fossil fuels was wrong. In 2022, 30 percent of bp's investments -- nearly $5 billion -- went into non-fossil fuel businesses. These include the takeover of the large US biogas company Archaea. "Greenpeace's analysis appears to classify these investments as fossil fuel investments - that's just plain wrong," a spokeswoman said. Greenpeace called on the governments of Germany and other European countries to regulate the oil business more strictly and thus speed up the switch to renewable energies. https://www.spiegel.de/wirtschaft/soziales/shell-bp-total-energies-oelkonzerne-investierten-2022-nur-einen-bruchteil-ihres-geldes-in-erneuerbare-energien-a-5efbfb16-c272-4748-be06-381cfdc56198?xing_share=news#ref=rss
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36 w
This is remarkably sad to say the least
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36 w
Compared to the amount of fossil fuels they supple to the world,this fraction is a drop in the ocean
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36 w
I detest their hypocrisy.
Unknown
37 w
In a world that's grappling with the monumental challenge of climate change, it's heartening to witness organizations taking significant steps to combat this global crisis. Let's extend our heartfelt "climate love" to Shell for your proactive efforts in addressing climate change and your impactful collaboration with Gitcoin to advance open-source climate solutions. Your year-long collaboration with Gitcoin speaks volumes about your commitment to creating a sustainable future. Recognizing blockchain's potential to tackle complex coordination issues in the energy industry, you've chosen an innovative path to incentivize the adoption of renewable energy sources while ensuring transparency and verifiability in carbon markets. It's a visionary approach that aligns perfectly with the needs of our rapidly changing world. By contributing to the Gitcoin matching fund for Climate Solutions and organizing a hackathon focused on blockchain-related energy use cases, Shell demonstrates not just corporate responsibility but also a genuine desire to engage with cutting-edge projects from around the globe. This collaboration is a testament to your dedication to harnessing the wisdom of the crowd through innovative funding mechanisms. Shell's commitment to sustainable development, the integration of economic, environmental, and social considerations, and the responsible provision of cleaner energy solutions is commendable. Your actions inspire confidence and optimism in the quest for a greener, more sustainable world. In a time when every effort counts, your partnership with Gitcoin and your endeavors in the realm of climate solutions send a powerful message. Together, we can pave the way for a brighter, more eco-conscious future. Shell's dedication to addressing climate change deserves nothing less than our heartfelt appreciation and climate love. So thank you. https://www.gitcoin.co/blog/gitcoin-shell-collaboration
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37 w
Shell had their chances several times and they failed, failed and failed again so they have used up their trust with all of us. They need to start delivering, delivering and delivering to win back the trust they may have had
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There is no solid or concrete committment that shows Shell is doing anything positive to support the planet.how I wish there is a "disagree" button🤔🤔
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They are just opening more fueling stations for fossil fuels rather than incorporating green energy solutions like changing stations for EVs
Hilda Wangui
40 w
Shell has reported profits of over $5bn for the second quarter of the year. The company blamed falling oil and gas prices as well as its lower of fossils fuel production for the profit slump. According to analysis by the NGO Global witness shell investment in oil and gas projects for 2023 predicted to increase by 10%from previous year. https://www.theguardian.com/business/2023/jul/27/shell-profits-oil-gas-price-shareholders.
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This is crazy to think of.
Elizabeth Gathigia
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First electricity has been produced from the large Hollandse Kust Noord offshore wind farm. Shell itself plans to use electricity from the project to make green hydrogen at a 200mw plant under construction in Rotterdam. https://www.reuters.com/business/energy/shell-led-dutch-wind-farm-delivers-first-electricity-2023-06-19/
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46 w
Very encouraging...a great step
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Great step in the right direction 👍
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Some positive actions by Shell. More clean energy investments required from them.
Munene Mugambi
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Synopsis Shell Corporation stands at a critical crossroads where it has the opportunity to make a lasting positive impact on the environment and secure a profitable future. As the world grapples with the urgent need to address climate change, it is crucial for Shell to reevaluate its plans for increased oil production by 2030. This article presents a compelling climate idea, urging Shell to leverage its vast infrastructure and venture into clean, renewable energy sources. By embracing renewable energy, Shell can not only contribute to environmental sustainability but also unlock new business opportunities and secure long-term profitability. Harnessing Clean Energy Potential: Shell's extensive infrastructure, technical expertise, and global reach uniquely position the company to lead the transition to clean energy. By strategically investing in renewable energy, Shell can diversify its portfolio, reduce carbon emissions, and create a sustainable business model. Several promising avenues for renewable energy exploration include: Solar Energy: Shell can harness its expertise in large-scale project development to invest in solar energy farms, both utility-scale and distributed installations. Solar power offers a vast potential for clean electricity generation and is becoming increasingly cost-effective. Wind Power: With its offshore and onshore capabilities, Shell can capitalize on the growth of wind energy. Investing in wind farms and expanding its presence in this sector would contribute to the generation of clean and renewable electricity. Energy Storage: Shell can play a pivotal role in developing advanced energy storage solutions, such as battery technologies. By supporting the integration of intermittent renewable energy sources into the grid, Shell can enhance the reliability and stability of the energy system. The Wrong Move: Continued Fossil Fuel Interest: Persisting with plans for increased oil production in the face of climate change is not only detrimental to the environment but also poses significant risks to Shell's long-term business prospects. Here's why: Climate Impact: Continued reliance on fossil fuels exacerbates global warming and contributes to irreversible environmental damage, including rising sea levels, extreme weather events, and ecosystem degradation. Regulatory and Market Shifts: Governments worldwide are increasingly adopting stringent climate policies and regulations. Transitioning away from fossil fuels is not only a moral imperative but also a legal requirement. Additionally, investor preferences are shifting towards sustainable and socially responsible companies, which may lead to divestment from fossil fuel-dependent corporations. Economic Opportunities: Renewable energy is a rapidly growing sector, offering significant economic opportunities. By strategically investing in clean energy, Shell can tap into emerging markets, benefit from government incentives, and build new revenue streams while mitigating the financial risks associated with declining fossil fuel demand. In conclusion, embracing renewable energy presents Shell Corporation with a compelling opportunity to lead the charge towards a sustainable future. By redirecting investments and leveraging its existing infrastructure, Shell can play a pivotal role in driving the global energy transition. The shift to clean energy not only aligns with environmental stewardship and the global commitment to combat climate change but also offers tremendous business potential. As a forward-thinking corporation, embracing renewable energy will not only secure Shell's position as an industry leader but also help create a cleaner, healthier, and more prosperous world for future generations. It's time to seize this opportunity, turn profit from renewable energy, and become a catalyst for positive change in the energy sector.
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45 w
Shell Corporation has the opportunity to make a significant positive impact by transitioning to clean energy, both for the environment and its long-term business prospects.
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Focusing more on clean energy rather
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46 w
Great ideas , it's true that clean and renewable energy is the future.
Markus Lutteman
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Shell has revised its fossil fuel strategy – and it’s not pleasant reading. As Bloomberg has reported, Shell sees “a long-term role for natural gas”. Oil output will remain “steady or slightly higher” into 2030, according to the strategy. Just two months ago, Carbon Brief showed that Shell’s own energy scenarios involved an immediate end to oil-and-gas expansion, if global warming is to be limited to 1.5C. Well, so much for that promise. Photo by Wabi Jayme on Unsplash Read more: https://www.bloomberg.com/news/articles/2023-06-12/shell-ceo-s-new-strategy-sees-a-longer-term-role-for-lng https://www.bloomberg.com/news/articles/2023-06-12/shell-ceo-s-new-strategy-sees-a-longer-term-role-for-lng
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46 w
Profiteers all around ..very shameful
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46 w
Shell company is always on the first line to intervene on the climate which is so bad
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46 w
We should all know they just want more profits
Tabitha Kimani
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As reported by Independent. Shell ditches lower oil production target but insists it's committed to cutting emissions. Ahead of an investor update in New York on Wednesday, Europe's largest energy company argued that it had already met the target it had set for itself in 2021 through asset sales. London-based Shell said it had seen its production drop from 1.9 million barrels of oil equivalent per day in 2019 to 1.5 million in 2022. Shell has, for example, offloaded a little under 200,000 barrels of daily production when it sold its sites in the U.S. Permian basin to ConocoPhillips two years ago. “Our target of a reduction in oil production by 2030 has not changed," the company said. “We’ve just met it eight years early.” New chief executive Wael Sawan insisted that the company was still committed to decarbonizing its operations, reiterating the goal that Shell will become a net-zero emissions energy business by 2050. Last week, the U.K.’s advertising watchdog banned a Shell marketing campaign for implying a big proportion of its business was in low carbon energy even though fossil fuels make up the “vast majority” of its operations. When it comes to Shell oil production, maintaining it at current levels will require investment because output from existing reservoirs naturally declines by around 5% every year. https://www.independent.co.uk/news/shell-ap-london-new-york-europe-b2357381.html
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45 w
They always have discouraging tactics.
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47 w
Profits over people apparently
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Are we surprised? Noooo
Elizabeth Gathigia
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Ads for shell promoting its low carbon products have been banned for falling to tell consumers that most of its business is based on environmentally damaging fossil fuel such as petrol. https://getsnap.link/GEzMATfpD5q
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47 w
UK did something most countries have failed to do which shows it's dedication towards fighting misinformation and green washing
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Shell is an enemy to nature, always mentioned for a warning.
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This is disgrace to the environment, @Shell should be held responsible of the damages these actions cause
johnte ndeto
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Shell has been formally reporting on sustainability-related performance for more than 25 years, with the aim of being transparent about activities that are important to investors, governments, and civil society. The Shell Sustainability Report outlines our social, safety and environmental performance in 2022 and sets out our progress in transitioning our business to net-zero emissions. In his introduction to the report, Shell’s Chief Executive Officer, Wael Sawan, writes: “As we invest in the energy needed today, our target to become a net-zero emissions energy business by 2050 remains at the heart of our strategy. We are making good progress. By the end of 2022, we had reduced carbon emissions from our operations by 30% compared with 2016 on a net basis, more than halfway towards our target of a 50% reduction by 2030. This report shows what we have achieved so far in our work to be a sustainable business. We aim to do this work responsibly, with discipline and at pace to make a positive difference.” Shell also published its new 2022 Climate and Energy Transition Lobbying Report. This is another step forward on our journey to increase transparency around our advocacy. It builds on the progress we have made since 2019 in reporting on the key industry associations we are members of, and in providing examples of our advocacy on our website. In addition, Shell published its 2022 Payments to Governments Report, in accordance with the UK’s The Reports on Payments to Governments Regulations 2014 (amended December 2015). In line with the Regulations, this report only covers extractive activities and payments equal to or above the £86,000 or equivalent materiality threshold, resulting in payments made to governments in 25 countries being included. https://www.shell.com/media/news-and-media-releases/2023/shell-publishes-reports-on-sustainability-climate-and-energy-transition-lobbying-and-payments-to-governments.html
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Shell is the best in green washing.
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If at all this is true,we need more reports and delivery like this from Shell. The number of warnings towards shell is warring.
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I think you should read all the reviews that have been written on Shell’s We Don’t Have Time profile.
Grace Njeri
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Shell (SHEL.L) shareholders should support a climate activist resolution at its annual general meeting and vote against the oil major on most counts, Britain's Local Authority Pension Fund Forum (LAPFF) recommends in a report seen by Reuters. This follows announcements by the the Church of England Pension Board, proxy adviser PIRC and a number of Dutch funds in favour of the climate resolution proposed by activist group Follow This. Influential shareholder advisories ISS and Glass Lewis recommended a vote against the resolution asking for stronger 2030 emissions-cutting targets while ISS accepted that the Follow This arguments had merits. Shell had asked shareholders to oppose the resolution at the May 23 meeting. "We strongly disagree with the positions against Shell voting recommendations taken by PIRC, the LAPFF, PGGM, MN and the Church of England Pensions Board," a Shell spokesperson said. "We trust a vast majority of shareholders will agree on the need to collaborate in balancing the supply and use of energy to accelerate the energy transition, while reducing the social costs, and we are pleased that ISS and Glass Lewis concur." LAPFF, which says it represents 350 billion pounds ($441.74 billion) of UK local authority pensions, recommended votes against Shell's directors' pay resolutions, its energy transition plan and most directors, apart from its Chair. "Given that 2030 is further away than the tenure of most executives and non-executive directors, the incentive framework to deliver a credible transition requires an overhaul, as does the board," LAPFF said. At Shell's 2022 shareholder meeting, Follow This received 20% of votes, down from 30% the previous year. Shell will hold an investor day in June, at which it will provide details on its updated strategy. Shell said its target of reducing emissions to net zero by 2050 remained unchanged and that it continues to invest in low-carbon energy.
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The resolution calls on the company to set targets in line with the Paris Agreement and publicly report on its performance in an effort to reduce its carbon emissions.
Rukia Ahmed Abdi
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Shell Shell accused of ‘profiteering bonanza’ after record first-quarter profits of $9.6bn Shell has been accused of a “profiteering bonanza” after it made record first-quarter profits of more than $9.6bn (£7.6bn) and showered shareholders with more than $6bn, even as oil and gas prices tumbled from last year’s highs. The better than expected profits in the first three months of this year were well above the $7.96bn predicted by industry analysts, and topped Shell’s previous first-quarter record set last year at $9.1bn for the same period. Europe’s biggest oil and gas company handed shareholders $2bn in dividend payments and bought back shares worth $4.3bn over the last quarter, and plans to offer its investors another $4bn in share buybacks over the next three months. Learn more https://www.theguardian.com/business/2023/may/04/shell-makes-record-quarterly-profits-of-nearly-10bn
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Indeed frustrating
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Quite sad. The profits increase as the world grapples with serious climate change effects.
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It's clear their interests are only in profit margins
Tomas Roovete
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Everyone knows that you can't solve a problem by avoiding it - You have to deal with it and the closer you are to the problem, the easier it is to solve. We are aware of what we have to do and that is to stop depending on fossil fuels and then we have to talk to the producers and suppliers in the fossil industry and show them how to change. If you are interested in stopping the war in Ukraine - Who do you need to talk to? My climate idea is to invite the fossil industry to an open conversation about how we can transform in the absolute fastest and best way for everyone involved. https://reports.shell.com/sustainability-report/2022/
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52 w
great move
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A great idea this is. You can only beat your enemies by befriending them.
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A heart warming idea
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Its now becoming clear that Shell never cared about anyone and anything else apart from themselves. Too much greed!
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Unfortunately 45% emission of CO2 is quite alot,instead shell should implement measures to reduce emission substantially.
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This clearly depicts how shell never cares or cared for efforts done to do away with fossil fuels. Sometimes I think they join projects to do away with fossil fuels for claut.