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Wall Street Journal ($):

Royal Dutch Shell pledged to halve its carbon-dioxide emissions by 2030, a day after activist investor Third Point LLC called for the breakup of the energy giant to improve its environmental and financial performances.

The company said Thursday that after “ongoing stakeholder engagement” it would reduce by 50% the carbon emissions under its operational control by the end of the decade compared with 2016 levels, though stopped short of promising to cut emissions linked to the use of its products.

The move comes as Shell seeks to navigate competing demands from shareholders and other groups, with some pushing the company to stick with the oil business it knows, to focus on payouts and shrink over time, and others wanting to see greater investment in low-carbon energy.

On Wednesday, New York-based hedge fund Third Point said it had taken a stake in Shell and wanted it to split into different companies—separating its legacy oil business from its liquefied-natural gas and renewable-energy operations—to retain and attract investors.

[Sarah McFarlane]

More: Shell Aims to Halve Carbon Emissions by 2030 as Activist Calls for Breakup

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