There’s only so much you can do to make oil and gas production cleaner.
That was a key realization behind Royal Dutch Shell Plc’s decision to set targets to reduce greenhouse-gas emissions not just from its own operations, but also from the products it sells which are consumed by others. So far, it’s the only oil major to do this.
Europe’s biggest oil company has said it plans to reduce its net carbon footprint by half by 2050. It added last year, in a notable reversal after pressure from activist investors, that it would set short-term targets every year on the way to that ultimate goal.
“We do embrace operational improvement, for sure, but bear in mind that there is a limit to what you can do,” Shell’s Projects and Technology Director Harry Brekelmans said in an interview in Oslo on Thursday. “Let’s focus on the things we can actually make a difference on, which is more in the products area.”
