News: Shell’s 2020 carbon emissions fall on the back of fuel sales drop.
LONDON (Reuters) – Royal Dutch Shell, owner of the world’s largest fuel retail network, announced Thursday that total greenhouse gas emissions fell 16% in 2020 as oil and gas sales fell sharply due to the coronavirus pandemic.
Shell said in its annual report that the total emissions of its oil wells in fuel consumption on the forecourt fell from 1.65 billion in 2019 to 1.38 billion tons of carbon dioxide equivalent last year.
“One of the main drivers of this larger than expected drop in 2020 was lower demand for energy, particularly oil and gas,” it said.
Energy corporations’ climate reporting differs in that some emissions data, such as the data released by Shell on Thursday, includes planet-warming gases from burning fuels they produce themselves, as well as the oil products they sell, but from another Companies produce.
Others, like BP, only cover the former: emissions from fuel burning from crude oil they produce themselves.
Net carbon intensity, the main measure the Anglo-Dutch are focusing on in their energy transition strategy, fell to 75 grams of CO2 equivalent per megajoule last year, a 4% reduction from 2019, Shell said.
Carbon intensity means that a company can increase its fossil fuel production while offsetting its carbon emissions or adding renewable energy to its product mix.
Shell has embarked on a major overhaul to move from oil and gas to low-carbon energy, power trading and retail, and to bring greenhouse gas emissions to zero by mid-century, including using offsets for residual emissions.
Shell operates around 46,000 retail petrol stations. Executive pay is related to success in achieving climate goals. For a fact box on Big Oil’s goals, click
Reporting by Ron Bousso; Adaptation by Alexander Smith and Pravin Char
Original Source © Reuters