Shell CEO van Beurden has updated investors on the company’s strategy, including its ambition to reduce its carbon footprint.

It was clear that the main driver for this was the need to present investors with a sure path to future resilience, both in terms of its financial position, but also in terms of any environmental considerations, with the company announcing a net carbon footprint ambition covering not just emissions from its own operations but also those produced when using Shell products.

“Shell aims to cut the net carbon footprint of its energy products by around half by 2050. As an interim step, by 2035, we aim to reduce it by around 20 per cent,” said van Beurden. “We will do this in step with society’s drive to align with the Paris goals, and we will do it by reducing the net carbon footprint of the full range of Shell emissions, from our operations and from the consumption of our products.”

In giving the update, the company considered all of its operations, but the development of new energies as a future growth platform was one off the highlighted areas, with the company increasing the capital allocated to this business to between USD1-2bn per year until 2020.

“Tackling climate change is a cross-generational, global and multi-faceted effort,” van Beurden said. “This is a challenge for the whole planet, for all of society, for customers, for governments and indeed for businesses. It will mean meeting increasing energy demand with an ever-lower carbon footprint. And it is critical that our ambition covers the full energy lifecycle from production to consumption. We are committed to play our part.’’

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