Shell's Move Toward Net Zero Emissions - To Build Carbon Capture And Storage Project In Canada
Portfolio Pulse from Lekha Gupta
Shell's Canadian unit has made a Final Investment Decision (FID) for the Polaris carbon capture project at the Shell Energy and Chemicals Park in Scotford, Alberta. The project aims to capture 650,000 tonnes of CO2 annually and reduce Scope 1 CO2 emissions by up to 40% at the Scotford refinery. Shell also announced an FID for the Atlas Carbon Storage Hub in collaboration with ATCO EnPower, which will store CO2 from the Polaris project. Both projects are expected to start operations by the end of 2028. Shell aims to become a net-zero emissions energy business by 2050 and plans to invest $10-$15 billion in low-carbon energy solutions from 2023-2025. Shell's stock has gained over 18% in the last 12 months.
June 26, 2024 | 4:45 pm
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POSITIVE IMPACT
The VanEck Natural Resources ETF, which includes Shell, may see positive impacts from Shell's carbon capture projects and net-zero emissions goals. These initiatives align with the ETF's focus on natural resources and sustainability.
The VanEck Natural Resources ETF includes Shell among its holdings. Shell's advancements in carbon capture and net-zero emissions initiatives align with the ETF's focus on natural resources and sustainability, potentially making it more attractive to investors.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Shell's sustainability initiatives through the Direxion Hydrogen ETF, which includes Shell among its holdings. The ETF may benefit from Shell's positive moves towards carbon capture and net-zero emissions.
The Direxion Hydrogen ETF includes Shell among its holdings. Shell's positive steps towards carbon capture and net-zero emissions could enhance the ETF's attractiveness to investors focused on sustainability.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Shell has announced FIDs for the Polaris carbon capture project and the Atlas Carbon Storage Hub, aiming to significantly reduce CO2 emissions. These projects align with Shell's goal to become a net-zero emissions energy business by 2050.
The announcement of FIDs for significant carbon capture projects aligns with Shell's long-term sustainability goals and could positively impact investor sentiment. The projects are expected to reduce CO2 emissions and contribute to Shell's net-zero target, which is likely to be viewed favorably by the market.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100