What are the headline figures ?

By the end of 2021 , Shell reduced Scope 1 and 2 emissions under its operational control to 68mn tonnes of CO2e , and cut total methane emissions from operations by 18 % to 55,000 tonnes , compared with 67,000 tonnes in 2020 .

So far so good – but what is the picture when we drill down ?

While progress has been made with net carbon emissions - down from 83mn tonnes of CO2e from the 2016 reference year - net carbon intensity has only decreased slightly from 79g CO2e / MJ in 2016 to 77g CO2e / MJ in 2021 .

What are Shell ’ s ‘ big three ’ focus areas ?

Increase investments in Marketing and Renewables and Energy Solutions ; maintain investments in Integrated Gas and Chemicals and Products businesses ; and limit investments in Upstream oil and gas business . The company is now working towards a 9-12 % reduction in net carbon intensity by 2024 , and a 20 % reduction by 2030 , both compared with 2016 .

What else is Shell doing in renewables ?

It recently invested $ 1.55bn acquiring Sprng Group , which will strengthen its low-carbon and renewables profile in India . It has also signed an agreement with Uniper to progress plans to produce blue hydrogen at Uniper ’ s Killingholme power station site , in the East of England .

� ENVISION ENERGY Envision Energy has been awarded a 2,000MW wind turbine order in India . The 596 wind turbines , all manufactured in Envision ' s India factory , will be delivered by the end of 2023 .

� AVANADE Microsoft provider Avanade has completed phase one of its cloud migration project for EDF Hinkley Point C ( HPC ), the UK ’ s first nuclear power station to be built in over 20 years .

� OIL IMPACTED BY PRICE , SUPPLY AND DEMAND PRESSURES New China lockdown measures , the war in Ukraine and weaker-than-expected

demand in OECD countries have all impacted Q2 global oil demand , according to the International Energy Agency ( IEA ).

� ENERGY PRICE RISES AS CAP LIFTED The energy price cap has swung into effect in the UK , hiking customer bills by more than £ 700 per year , a figure which could be eclipsed in October .

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