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Top people leave Shell out of dissatisfaction with the slow transition to sustainability

Four directors at Shell have left because they think the company is too slowly switching to sustainable energy. The Financial Times reports that. The company will announce early next year how it wants to achieve net zero greenhouse gas emissions by 2050 at the latest.

The resigned directors all worked in leading positions in the green energy divisions of the company. “People are wondering if anything is really going to change,” a source told The Financial Times. Other drivers would also be about to leave.

Shell points to the previously announced reorganization, which will result in the loss of 7,000 to 9,000 jobs worldwide, as the reason for their departure. According to the company, functions are merged, so that people leave on their own or make use of a voluntary severance scheme.

“We remain focused on the energy transition, but for that we need to reform,” said a Shell spokesperson. “We want to have the right structure to achieve our ambition of net zero emissions by 2050.”

More investments in sustainable energy

Shell still obtains almost all of its turnover from the extraction of oil and gas. The company announced in October that it would more than double its investments in renewable energy from 11 to 25 percent. For the coming year, this involves an amount of about five billion dollars, which will be invested in sustainable electricity such as offshore wind farms, hydrogen projects and biofuels.

Several organizations have filed a lawsuit against Shell because they believe the company should do more to reduce emissions.

Top people leave Shell out of dissatisfaction with the slow transition to sustainability
Source link Top people leave Shell out of dissatisfaction with the slow transition to sustainability

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