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Shell says it wants to double green energy investment

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Company already committed to spend $1bn-$2bn annually in the next two years on low carbon energy Shell has declared an ambition to double the amount it spends on green energy to $4bn (£3.2bn) a year, in a sign of how the Anglo-Dutch company is looking to speed up its move to a future beyond oil and gas. Maarten Wetselaar, the head of the gas and new energy unit which generates a third of the company’s revenues, said he wanted to raise Shell’s investment in low carbon energy. 

The company has already committed to spend $1bn-$2bn annually in the next two years, with the rest of its total $25bn budget invested in hydrocarbons.
Wetselaar said if his initial investments generated a good enough return, he would be able to successfully argue for an increase from 2020 onwards.

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23. 02. 2019 22. 02. 2019

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