Ben Van Beurden
Ben Van Beurden,CEO,Shell
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While Shell performed well in Q1 2021, the company was ordered by a Dutch court to cut its emissions by 45% by 2030, compared to 2019 levels. The lawsuit was filed in April 2019 by seven activist groups, and although we have noted Shell’s moves towards a cleaner energy mix in the past and its competitive emission intensity among majors, this could speed up their efforts. The company has said that it will appeal the decision, while activists celebrated it as a “turning point in history”. It is the first ruling of its kind in history, but we expect a thorough appeals process. Still, this could see the oil major divest its high-emission assets and refocus its business on cleaner energy projects.
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