Oil and gas group Shell is lagging behind with its intended investments in green energy. Shell will have to invest twice as much in renewable energy this year as in the past three years if it is to achieve its own sustainability goals.
The Dutch-British group promised to invest between 1 billion and 2 billion dollars in sustainable projects such as solar parks and wind turbines at sea in the period 2017 to 2020. According to that plan, Shell should have made at least $ 3 billion in green investments by the end of 2019. The counter currently stands at 2 billion dollars.
In the same four-year period, Shell spent around $ 120 billion on the development of fossil fuel projects. Another $ 30 billion are on the roll for the coming years. Shell has not yet responded to the newspaper against this news.
Industry peers from Shell such as BP, Total, Eni and Equinor are also lagging far behind with their green objectives. Shell is known in the sector as a leader in sustainable energy.
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