Oil Giant Shell Appeals Landmark Climate Ruling: Report
Portfolio Pulse from Lekha Gupta
Shell plc (NYSE:SHEL) is appealing a Dutch court's landmark climate ruling from 2021, which ordered the company to cut its carbon emissions by 45% by 2030 compared to 2019 levels. The appeal comes as Shell has already achieved over 60% of its target to halve emissions from its operations by 2030 versus 2016 and has adjusted its ambitions regarding customer emissions and retired its 2035 target for a 45% reduction in net carbon intensity. Shell plans to invest $10 billion-$15 billion in low-carbon energy solutions between 2023-2025. SHEL shares rose 1.19% in premarket trading.
April 02, 2024 | 11:12 am
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Shell plc is appealing a 2021 climate ruling requiring a 45% emissions cut by 2030, has achieved significant progress towards its emission reduction goals, and plans to invest heavily in low-carbon energy.
Shell's appeal against the climate ruling and its progress in reducing emissions demonstrate its commitment to addressing climate change, potentially mitigating legal and regulatory risks. The planned investment in low-carbon solutions could enhance its market positioning in the transition to renewable energy, positively impacting investor sentiment and stock price in the short term.
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