Shell speeds up carbon reduction targets

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Oil major Royal Dutch Shell will accelerate near-term and long-term plans aimed at reducing its net carbon emissions intensity to zero by 2050, it says, adding that its emissions peaked in 2018.

Shell said it aims to reduce its net intensity by between 6 per cent and 8 per cent from 2016 levels by 2023. The target rises to 20 per cent by 2030, 45 per cent by 2035 and 100 per cent by the middle of the century.

The company had previously said it would reduce its net carbon footprint emission intensity metric by at least 3 per cent by 2022, 30 per cent by 2035 and 65 per cent by 2050 from a 2016 baseline.

Intensity levels represent emissions per unit of energy produced, technically allowing higher production.