Shell says net-zero target ‘no longer conditional on society’s progress’ (NYSE: SHEL)

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Shell (NYSE: SHEL) has cut carbon emissions from its operations by 18% during the past five years, and the company will strive to meet its goal to cut emissions to net zero by 2050 regardless of progress by customers and broader society, CEO Ben van Beurden said Wednesday.

Shell (SHEL) previously had said it aims to become a non-zero greenhouse gas emissions business by 2050 “in step with society and our customers.”

The company said it also achieved its short-term target to reduce the net carbon intensity of the energy products it sells by 2.5% by the end of 2021 compared with 2016.

Shell’s (SHEL) board has asked shareholders to reject a resolution by Dutch activist group Follow This that seeks more stringent climate goals from the company.

The activist’s climate proposal, which is similar to the one filed this year, received 30% shareholder approval last year, the most since it began filing with Shell in 2016.

Shell (SHEL) took the top spot in BloombergNEF’s recent rating of oil and gas majors in managing climate risk and shaping business models for a low-carbon world.

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