While EPA’s head Scott Pruitt considers that the human activity on the planet is not the primary contributor to the global warming, Ben van Beurden, Shell’s CEO, wants to switch to clean energy in order to keep public support for the company.
Shell is today the world’s second largest publicly-traded oil company, and the CEO said that the transition to a clean energy system will take decades, but the governmental policies that will put a price on carbon emissions will produce a phase-out of the polluting sources of energy such as coal and oil.
The first step toward a clean energy system, means for the company, an investment of $1 billion per year in renewable energy by the end of this decade.
However, Beurden says that the “biggest challenge” for Shell is to maintain a public acceptance for the energy industry.
Beurden considers that the public support for Shell was not eroded to the point where can create a serious issue for the long term future of the company, but even so, they need to be very careful to maintain a strong public support.
Today, Shell is a very vocal supporter of the carbon tax and a major investor in natural gas, which is a cleaner source of energy compared to coal.
Shell announced on Tuesday (March 7, 2017), that from this year, its directors will be rewarded in part after the results in managing greenhouse gas emissions and after the amount of cash flow generated.
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